Sumitomo Mitsui Trust Group Inc. Sells 22,687 Shares of Icon Plc $ICLR

Sumitomo Mitsui Trust Group Inc. cut its holdings in Icon Plc (NASDAQ:ICLR) by 87.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,155 shares of the medical research company’s stock after selling 22,687 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Icon were worth $552,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Private Trust Co. NA raised its position in shares of Icon by 200.0% during the 3rd quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock valued at $25,000 after buying an additional 94 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Icon during the second quarter worth approximately $48,000. LRI Investments LLC purchased a new stake in Icon during the second quarter valued at approximately $49,000. Blue Trust Inc. increased its position in shares of Icon by 44.0% during the 2nd quarter. Blue Trust Inc. now owns 393 shares of the medical research company’s stock valued at $57,000 after purchasing an additional 120 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Icon by 40,800.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the medical research company’s stock valued at $59,000 after purchasing an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Price Performance

Shares of ICLR stock opened at $182.61 on Tuesday. Icon Plc has a twelve month low of $125.10 and a twelve 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 stock has a fifty day simple moving average of $179.73 and a two-hundred day simple moving average of $174.58. The stock has a market capitalization of $14.75 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 3.84 and a beta of 1.26.

Analyst Ratings Changes

Several research firms have commented on ICLR. Mizuho set a $216.00 price objective on shares of Icon in a research note on Friday, January 9th. Bank of America downgraded shares of Icon from a “buy” rating to a “neutral” rating and set a $195.00 price objective for the company. in a research note on Monday, December 15th. Truist Financial restated a “hold” rating and set a $222.00 target price (down previously from $231.00) on shares of Icon in a research report on Thursday, January 8th. Zacks Research upgraded Icon from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Robert W. Baird set a $217.00 price objective on Icon in a report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Icon currently has an average rating of “Moderate Buy” and a consensus price target of $199.87.

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.