Eldred Rock Partners LLC Sells 5,946 Shares of Icon Plc $ICLR

Eldred Rock Partners LLC lessened its holdings in shares of Icon Plc (NASDAQ:ICLR) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,071 shares of the medical research company’s stock after selling 5,946 shares during the period. Icon makes up 2.5% of Eldred Rock Partners LLC’s portfolio, making the stock its 23rd biggest position. Eldred Rock Partners LLC owned approximately 0.07% of Icon worth $9,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ICLR. Principal Financial Group Inc. lifted its stake in 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 buying an additional 2,886,755 shares in the last quarter. Harris Associates L P bought a new stake in shares of Icon during the second quarter worth $238,256,000. Wellington Management Group LLP increased its position in shares of Icon by 26.6% during the third quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after acquiring an additional 975,268 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Icon by 35.4% during the third quarter. Franklin Resources Inc. now owns 2,753,528 shares of the medical research company’s stock worth $481,692,000 after acquiring an additional 719,301 shares during the period. Finally, Boston Partners raised its holdings in shares of Icon by 1,207.3% during the third quarter. Boston Partners now owns 739,135 shares of the medical research company’s stock worth $129,372,000 after acquiring an additional 682,597 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ICLR shares. Bank of America reaffirmed an “underperform” rating and issued a $75.00 target price on shares of Icon in a research note on Thursday, February 12th. BMO Capital Markets upgraded Icon from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $100.00 to $130.00 in a report on Thursday, March 26th. Truist Financial reaffirmed a “hold” rating and set a $222.00 price objective (down from $231.00) on shares of Icon in a research report on Thursday, January 8th. Mizuho set a $216.00 target price on Icon in a research report on Friday, January 9th. Finally, Jefferies Financial Group set a $135.00 target price on Icon and gave the company a “buy” rating in a research note on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $148.80.

Icon Stock Up 2.5%

Shares of ICLR stock opened at $114.19 on Friday. The firm’s fifty day moving average price is $120.59 and its two-hundred day moving average price is $158.51. 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 Plc has a 1 year low of $66.57 and a 1 year high of $211.00. The firm has a market capitalization of $9.22 billion, a P/E ratio of 15.45, a PEG ratio of 2.82 and a beta of 1.28.

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.