Icon Plc $ICLR Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lowered its position in shares of Icon Plc (NASDAQ:ICLR) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,071,360 shares of the medical research company’s stock after selling 113,510 shares during the quarter. Icon accounts for 1.8% of Artisan Partners Limited Partnership’s investment portfolio, making the stock its 14th largest holding. Artisan Partners Limited Partnership owned 8.76% of Icon worth $1,237,488,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ICLR. Principal Financial Group Inc. increased its stake in shares of Icon by 739.2% during the third quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock worth $573,526,000 after acquiring an additional 2,886,755 shares during the period. Harris Associates L P purchased a new stake in Icon in the 2nd quarter valued at approximately $238,256,000. Norges Bank purchased a new stake in Icon in the 2nd quarter valued at approximately $158,639,000. 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 during the period. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Icon during the 2nd quarter worth approximately $94,814,000. Institutional investors and hedge funds own 95.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ICLR shares. Truist Financial restated a “hold” rating and issued a $222.00 price target (down from $231.00) on shares of Icon in a research note on Thursday, January 8th. Leerink Partners reissued a “market perform” rating and issued a $105.00 target price on shares of Icon in a report on Thursday, February 12th. Rothschild & Co Redburn set a $100.00 target price on shares of Icon and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Bank of America reaffirmed an “underperform” rating and set a $75.00 price target on shares of Icon in a research note on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Icon in a research note on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $157.47.

Icon Price Performance

NASDAQ:ICLR opened at $106.13 on Friday. Icon Plc has a 12-month low of $66.57 and a 12-month high of $211.00. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 2.59 and a beta of 1.27. The company’s 50-day moving average is $160.76 and its two-hundred day moving average is $170.69. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31.

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.