Aberdeen Group plc Lowers Position in Icon Plc $ICLR

Aberdeen Group plc trimmed its position in Icon Plc (NASDAQ:ICLR) by 93.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,738 shares of the medical research company’s stock after selling 55,473 shares during the period. Aberdeen Group plc’s holdings in Icon were worth $654,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Mitchell Capital Management Co. bought a new stake in shares of Icon in the 3rd quarter worth approximately $1,627,000. Tributary Capital Management LLC grew 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 worth $2,057,000 after buying an additional 5,381 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in 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 worth $84,018,000 after buying an additional 65,264 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Icon by 739.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock valued at $573,526,000 after purchasing an additional 2,886,755 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. boosted its holdings in Icon by 12.4% during the 3rd 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 period. Institutional investors own 95.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Icon in a report on Monday, December 29th. Zacks Research upgraded shares of Icon from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Truist Financial reissued a “hold” rating and issued a $222.00 target price (down previously from $231.00) on shares of Icon in a research report on Thursday, January 8th. Mizuho set a $216.00 price target on shares of Icon in a research report on Friday, January 9th. Finally, Barclays lifted their price objective on Icon from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Icon currently has an average rating of “Hold” and an average price target of $160.13.

Icon Stock Performance

NASDAQ:ICLR opened at $99.70 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $8.05 billion, a PE ratio of 13.49, a PEG ratio of 2.47 and a beta of 1.27. Icon Plc has a fifty-two week low of $66.57 and a fifty-two week high of $211.00. The stock’s fifty day moving average is $166.94 and its 200 day moving average is $172.39.

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.