Alliancebernstein L.P. Acquires 24,571 Shares of Icon Plc (ICLR)
Alliancebernstein L.P. boosted its holdings in shares of Icon Plc (NASDAQ:ICLR) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,560,367 shares of the medical research company’s stock after purchasing an additional 24,571 shares during the quarter. Alliancebernstein L.P.’s holdings in Icon were worth $287,145,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Insight Capital Research & Management Inc. purchased a new stake in Icon during the third quarter valued at $1,359,000. BT Investment Management Ltd purchased a new stake in Icon during the third quarter valued at $325,000. JPMorgan Chase & Co. raised its stake in Icon by 11.5% during the third quarter. JPMorgan Chase & Co. now owns 42,043 shares of the medical research company’s stock valued at $4,697,000 after purchasing an additional 4,320 shares in the last quarter. NorthCoast Asset Management LLC raised its stake in Icon by 23.4% during the third quarter. NorthCoast Asset Management LLC now owns 18,016 shares of the medical research company’s stock valued at $2,052,000 after purchasing an additional 3,419 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its stake in Icon by 2.4% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 47,502 shares of the medical research company’s stock valued at $5,327,000 after purchasing an additional 1,110 shares in the last quarter. 89.18% of the stock is currently owned by institutional investors.
Icon Plc (NASDAQ:ICLR) opened at $115.11 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.90 and a current ratio of 1.90. Icon Plc has a 1 year low of $76.46 and a 1 year high of $124.48. The firm has a market cap of $6,233.44, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.63 and a beta of 0.45.
A number of research firms recently issued reports on ICLR. ValuEngine raised shares of Icon from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Mizuho reiterated a “neutral” rating and set a $114.00 price objective (up previously from $109.00) on shares of Icon in a research report on Thursday, February 15th. KeyCorp reiterated a “buy” rating and set a $130.00 price objective on shares of Icon in a research report on Thursday, January 11th. BidaskClub upgraded shares of Icon from a “strong sell” rating to a “sell” rating in a research report on Friday, February 9th. Finally, Credit Suisse Group upgraded shares of Icon to a “buy” rating and set a $131.00 price objective on the stock in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $126.00.
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ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.
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