WCM Investment Management LLC Trims Stock Position in Icon Plc $ICLR

WCM Investment Management LLC cut its holdings in Icon Plc (NASDAQ:ICLR) by 28.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,913 shares of the medical research company’s stock after selling 56,033 shares during the quarter. WCM Investment Management LLC owned approximately 0.18% of Icon worth $23,521,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Artisan Partners Limited Partnership grew its holdings in Icon by 67.4% during the 2nd 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 last quarter. Principal Financial Group Inc. lifted its position in shares of Icon by 739.2% in the third quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock valued at $573,526,000 after acquiring an additional 2,886,755 shares in the last quarter. Harris Associates L P acquired a new stake in shares of Icon during the second quarter valued at $238,256,000. Norges Bank purchased a new stake in Icon during the 2nd quarter worth about $158,639,000. Finally, 1832 Asset Management L.P. increased its position in Icon by 587.9% during the 2nd 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 in the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ICLR shares. Leerink Partners reaffirmed an “outperform” rating on shares of Icon in a research note on Monday, January 5th. Bank of America downgraded shares of Icon from a “buy” rating to a “neutral” rating and set a $195.00 price objective on the stock. in a research note on Monday, December 15th. UBS Group set a $220.00 target price on shares of Icon in a research note on Friday, October 24th. Zacks Research upgraded Icon from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Icon in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $200.60.

Icon Stock Performance

NASDAQ:ICLR opened at $178.59 on Tuesday. The company has a market cap of $14.42 billion, a P/E ratio of 24.17, a P/E/G ratio of 3.81 and a beta of 1.26. The firm’s 50 day moving average is $184.24 and its two-hundred day moving average is $177.07. Icon Plc has a fifty-two week low of $125.10 and a fifty-two week high of $211.00. 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 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.