State of Michigan Retirement System Acquires 15,400 Shares of Icon Plc $ICLR

State of Michigan Retirement System raised its stake in shares of Icon Plc (NASDAQ:ICLR) by 22.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 85,070 shares of the medical research company’s stock after purchasing an additional 15,400 shares during the quarter. State of Michigan Retirement System’s holdings in Icon were worth $14,887,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Ameritas Advisory Services LLC bought a new position in Icon in the second quarter valued at approximately $48,000. DAVENPORT & Co LLC bought a new stake in Icon in the second quarter valued at approximately $403,000. Blue Trust Inc. boosted its position in Icon by 44.0% during 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 during the period. Aberdeen Group plc raised its holdings in Icon by 5.6% in the 2nd quarter. Aberdeen Group plc now owns 59,211 shares of the medical research company’s stock valued at $8,612,000 after acquiring an additional 3,165 shares during the period. Finally, Inspire Investing LLC boosted its stake in Icon by 42.2% in the 2nd quarter. Inspire Investing LLC now owns 14,691 shares of the medical research company’s stock valued at $2,137,000 after purchasing an additional 4,362 shares during the period. Institutional investors and hedge funds own 95.61% of the company’s stock.

Icon Stock Up 3.6%

ICLR opened at $150.59 on Friday. The company has a market cap of $12.16 billion, a P/E ratio of 20.38, a P/E/G ratio of 3.18 and a beta of 1.27. Icon Plc has a 12 month low of $125.10 and a 12 month high of $211.00. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $182.27 and its 200-day moving average price is $177.10.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ICLR shares. UBS Group set a $220.00 price objective on shares of Icon in a research report on Friday, October 24th. Leerink Partners reiterated an “outperform” rating on shares of Icon in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Icon in a report on Monday, December 29th. BMO Capital Markets assumed coverage on Icon in a research note on Thursday, November 13th. They issued a “market perform” rating and a $175.00 target price on the stock. Finally, Robert W. Baird set a $217.00 price objective on shares of Icon in a research report on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Icon currently has a consensus rating of “Hold” and an average target price 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.