Pettee Investors Inc. Sells 6,501 Shares of Icon Plc $ICLR

Pettee Investors Inc. decreased its position in Icon Plc (NASDAQ:ICLR) by 84.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,200 shares of the medical research company’s stock after selling 6,501 shares during the period. Pettee Investors Inc.’s holdings in Icon were worth $210,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ICLR. Tributary Capital Management LLC increased its stake in Icon by 84.5% in the 3rd quarter. Tributary Capital Management LLC now owns 11,752 shares of the medical research company’s stock valued at $2,057,000 after buying an additional 5,381 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Icon by 15.7% in the 3rd quarter. Stephens Investment Management Group LLC now owns 480,104 shares of the medical research company’s stock valued at $84,018,000 after acquiring an additional 65,264 shares in the last quarter. Hudson Edge Investment Partners Inc. increased its position in shares of Icon by 12.4% in the third quarter. Hudson Edge Investment Partners Inc. now owns 200,739 shares of the medical research company’s stock valued at $35,129,000 after acquiring an additional 22,164 shares during the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in shares of Icon in the third quarter valued at about $2,589,000. Finally, Trinity Street Asset Management LLP raised its holdings in Icon by 3.5% during the third quarter. Trinity Street Asset Management LLP now owns 870,973 shares of the medical research company’s stock worth $152,420,000 after acquiring an additional 29,558 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ICLR shares. Bank of America downgraded Icon from a “buy” rating to a “neutral” rating and set a $195.00 price target for the company. in a research note on Monday, December 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Icon in a research note on Monday, December 29th. Truist Financial restated a “hold” rating and set a $222.00 target price (down from $231.00) on shares of Icon in a report on Thursday, January 8th. Zacks Research raised shares of Icon from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Leerink Partners reissued an “outperform” rating on shares of Icon in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $200.60.

Icon Stock Down 0.9%

Shares of ICLR opened at $178.59 on Tuesday. The firm has a market cap of $14.42 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 3.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06. Icon Plc has a 52 week low of $125.10 and a 52 week high of $211.00. The firm’s 50-day simple moving average is $184.24 and its 200 day simple moving average is $177.07.

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.