Altrinsic Global Advisors LLC Buys Shares of 303,408 Icon Plc $ICLR

Altrinsic Global Advisors LLC purchased a new stake in shares of Icon Plc (NASDAQ:ICLR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 303,408 shares of the medical research company’s stock, valued at approximately $53,096,000. Icon comprises about 2.0% of Altrinsic Global Advisors LLC’s holdings, making the stock its 13th largest holding. Altrinsic Global Advisors LLC owned 0.38% of Icon at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Private Trust Co. NA boosted its stake in Icon by 200.0% in the 3rd quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock worth $25,000 after purchasing an additional 94 shares during the period. Ameriflex Group Inc. purchased a new position in Icon during the 3rd quarter valued at about $33,000. Wilmington Savings Fund Society FSB increased its position in shares of Icon by 153.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 332 shares of the medical research company’s stock valued at $58,000 after buying an additional 201 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Icon in the third quarter worth about $63,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Icon in the third quarter worth about $71,000. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Icon Price Performance

ICLR opened at $98.33 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $144.09 and its 200 day simple moving average is $165.46. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.52 and a beta of 1.35. Icon Plc has a 1 year low of $66.57 and a 1 year high of $211.00.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ICLR shares. Citigroup reduced their price objective on shares of Icon from $200.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Icon in a research note on Monday, December 29th. Robert W. Baird set a $119.00 price target on shares of Icon in a report on Friday, February 13th. Zacks Research lowered shares of Icon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Finally, Leerink Partners reaffirmed a “market perform” rating and issued a $105.00 price target on shares of Icon in a report on Thursday, February 12th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $146.80.

Icon 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.