Norges Bank Purchases New Position in Icon Plc $ICLR

Norges Bank purchased a new stake in Icon Plc (NASDAQ:ICLR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,090,679 shares of the medical research company’s stock, valued at approximately $158,639,000.

Several other hedge funds also recently modified their holdings of the company. First National Bank Sioux Falls raised its stake in shares of Icon by 5.7% in the second quarter. First National Bank Sioux Falls now owns 1,580 shares of the medical research company’s stock valued at $230,000 after acquiring an additional 85 shares during the last quarter. Mutual Advisors LLC increased its holdings in Icon by 3.6% during the 2nd quarter. Mutual Advisors LLC now owns 2,698 shares of the medical research company’s stock valued at $392,000 after purchasing an additional 93 shares in the last quarter. Hunter Perkins Capital Management LLC raised its position in Icon by 0.4% in the 2nd quarter. Hunter Perkins Capital Management LLC now owns 22,399 shares of the medical research company’s stock valued at $3,258,000 after purchasing an additional 97 shares during the last quarter. Blue Trust Inc. boosted its stake in Icon by 44.0% in the second quarter. Blue Trust Inc. now owns 393 shares of the medical research company’s stock worth $57,000 after purchasing an additional 120 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its stake in Icon by 8.7% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,657 shares of the medical research company’s stock worth $290,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Icon Stock Performance

Icon stock opened at $183.14 on Wednesday. The company has a market cap of $14.79 billion, a PE ratio of 24.78, a PEG ratio of 3.04 and a beta of 1.22. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31. Icon Plc has a 1 year low of $125.10 and a 1 year high of $228.29. The company’s 50-day moving average is $175.03 and its two-hundred day moving average is $163.76.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Icon in a research note on Monday. Robert W. Baird set a $220.00 price objective on shares of Icon in a report on Friday, October 24th. Jefferies Financial Group downgraded shares of Icon from a “buy” rating to a “hold” rating and dropped their target price for the stock from $220.00 to $175.00 in a research note on Tuesday, September 9th. Rothschild Redb upgraded shares of Icon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, TD Cowen lowered their price target on shares of Icon from $183.00 to $172.00 and set a “hold” rating for the company in a report on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

Icon Profile

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.