Capital World Investors Invests $39.97 Million in Icon Plc $ICLR

Capital World Investors bought a new stake in shares of Icon Plc (NASDAQ:ICLR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 228,384 shares of the medical research company’s stock, valued at approximately $39,967,000.

Other large investors also recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its stake in Icon by 200.0% in the third quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock worth $25,000 after purchasing an additional 94 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of Icon in the third quarter worth about $33,000. Wilmington Savings Fund Society FSB increased its holdings in shares of Icon by 153.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 332 shares of the medical research company’s stock worth $58,000 after buying an additional 201 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Icon in the 3rd quarter valued at about $63,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Icon by 11.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock valued at $79,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Price Performance

Shares of ICLR opened at $97.45 on Friday. Icon Plc has a fifty-two week low of $66.57 and a fifty-two week high of $211.00. The firm’s 50-day simple moving average is $145.89 and its two-hundred day simple moving average is $166.01. The stock has a market cap of $7.87 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 2.70 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ICLR. Mizuho set a $216.00 price target on Icon in a research report on Friday, January 9th. Truist Financial reissued a “hold” rating and set a $222.00 price objective (down from $231.00) on shares of Icon in a research note on Thursday, January 8th. Jefferies Financial Group set a $135.00 target price on shares of Icon and gave the stock a “buy” rating in a report on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Icon in a report on Monday, December 29th. Finally, TD Cowen raised shares of Icon from a “hold” rating to a “buy” rating and dropped their price target for the company from $183.00 to $120.00 in a research report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $146.80.

Icon Company Profile

Icon plc (NASDAQ: ICLR) is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon’s service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.