Brown Capital Management LLC Has $29.81 Million Stock Position in Icon Plc $ICLR

Brown Capital Management LLC lowered its stake in shares of Icon Plc (NASDAQ:ICLR) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 170,341 shares of the medical research company’s stock after selling 9,182 shares during the quarter. Brown Capital Management LLC’s holdings in Icon were worth $29,810,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICLR. Artisan Partners Limited Partnership lifted its position in shares of Icon by 67.4% during the second quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company’s stock worth $1,045,039,000 after purchasing an additional 2,893,946 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Icon by 739.2% in the third quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock valued at $573,526,000 after purchasing an additional 2,886,755 shares in the last quarter. Harris Associates L P bought a new position in Icon in the 2nd quarter worth approximately $238,256,000. Norges Bank acquired a new position in Icon during the 2nd quarter worth $158,639,000. Finally, 1832 Asset Management L.P. boosted its position in Icon by 587.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,151,328 shares of the medical research company’s stock valued at $167,461,000 after buying an additional 983,950 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Icon Price Performance

Shares of ICLR opened at $178.59 on Tuesday. The stock has a market cap of $14.42 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 3.81 and a beta of 1.26. Icon Plc has a 1 year low of $125.10 and a 1 year high of $211.00. The stock’s 50-day moving average price is $184.24 and its two-hundred day moving average price is $177.07. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ICLR shares. Bank of America downgraded Icon from a “buy” rating to a “neutral” rating and set a $195.00 target price for the company. in a research report on Monday, December 15th. Zacks Research raised Icon from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. TD Cowen upped their target price on shares of Icon from $172.00 to $183.00 and gave the company a “hold” rating in a research report on Thursday, January 22nd. Truist Financial reaffirmed a “hold” rating and issued a $222.00 target price (down previously from $231.00) on shares of Icon in a research note on Thursday, January 8th. Finally, UBS Group set a $220.00 price target on shares of Icon in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $200.60.

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.