Allspring Global Investments Holdings LLC Grows Stake in Icon Plc $ICLR

Allspring Global Investments Holdings LLC lifted its holdings in Icon Plc (NASDAQ:ICLR) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,068,857 shares of the medical research company’s stock after purchasing an additional 8,358 shares during the period. Allspring Global Investments Holdings LLC owned about 1.32% of Icon worth $205,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ICLR. Artisan Partners Limited Partnership boosted 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 valued at $1,045,039,000 after buying an additional 2,893,946 shares during the period. Harris Associates L P purchased a new position in Icon during the 2nd quarter valued at $238,256,000. Norges Bank bought a new position in Icon in the 2nd quarter valued at $158,639,000. 1832 Asset Management L.P. increased its stake in Icon by 587.9% in the second quarter. 1832 Asset Management L.P. now owns 1,151,328 shares of the medical research company’s stock worth $167,461,000 after purchasing an additional 983,950 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Icon during the second quarter worth $94,814,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Trading Up 0.4%

Shares of NASDAQ:ICLR opened at $183.00 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. Icon Plc has a 52-week low of $125.10 and a 52-week high of $228.29. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 3.38 and a beta of 1.25. The business has a 50-day moving average price of $175.04 and a 200-day moving average price of $170.57.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America downgraded shares of Icon from a “buy” rating to a “neutral” rating and set a $195.00 price target on the stock. in a research note on Monday, December 15th. Robert W. Baird set a $220.00 price objective on Icon in a research note on Friday, October 24th. Cowen reaffirmed a “hold” rating on shares of Icon in a research report on Friday, October 24th. Barclays upped their target price on Icon from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Monday, December 15th. Finally, Zacks Research upgraded Icon from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.31.

About Icon

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.