Icon Plc $ICLR Stock Position Lessened by Legal & General Group Plc

Legal & General Group Plc reduced its stake in shares of Icon Plc (NASDAQ:ICLR) by 5.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 261,966 shares of the medical research company’s stock after selling 14,039 shares during the quarter. Legal & General Group Plc’s holdings in Icon were worth $38,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Artisan Partners Limited Partnership lifted its stake in shares of Icon by 67.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company’s stock worth $1,045,039,000 after acquiring an additional 2,893,946 shares during the period. Financiere des Professionnels Fonds d investissement inc. raised its holdings in Icon by 31.0% during the second quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,212 shares of the medical research company’s stock worth $7,303,000 after purchasing an additional 11,894 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Icon in the second quarter worth approximately $403,000. Equity Investment Corp bought a new position in Icon during the 2nd quarter valued at $82,264,000. Finally, Greenhaven Associates Inc. acquired a new position in shares of Icon during the 2nd quarter valued at $2,565,000. Institutional investors own 95.61% of the company’s stock.

Icon Stock Performance

Shares of ICLR opened at $183.65 on Thursday. The company has a 50-day moving average of $174.32 and a two-hundred day moving average of $162.23. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 3.04 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06. Icon Plc has a one year low of $125.10 and a one year high of $228.29.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ICLR. Weiss Ratings restated a “hold (c-)” rating on shares of Icon in a report on Tuesday. Barclays cut their price target on shares of Icon from $190.00 to $185.00 and set an “equal weight” rating for the company in a report on Friday, October 24th. TD Cowen lowered their price objective on shares of Icon from $183.00 to $172.00 and set a “hold” rating on the stock in a research note on Friday, October 24th. BMO Capital Markets initiated coverage on shares of Icon in a research note on Thursday, November 13th. They set a “market perform” rating and a $175.00 target price for the company. Finally, Rothschild Redb upgraded shares of Icon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

About Icon

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.