Boston Partners Trims Position in Icon Plc $ICLR

Boston Partners decreased its position in Icon Plc (NASDAQ:ICLR) by 90.7% during the second quarter, Holdings Channel reports. The fund owned 56,538 shares of the medical research company’s stock after selling 548,381 shares during the period. Boston Partners’ holdings in Icon were worth $8,226,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Artisan Partners Limited Partnership lifted its stake in shares of Icon by 67.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company’s stock worth $1,045,039,000 after purchasing an additional 2,893,946 shares during the period. Massachusetts Financial Services Co. MA raised its position in Icon by 21.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,752,008 shares of the medical research company’s stock worth $545,730,000 after acquiring an additional 650,379 shares during the period. Ninety One UK Ltd boosted its stake in shares of Icon by 2.6% during the 2nd quarter. Ninety One UK Ltd now owns 2,993,652 shares of the medical research company’s stock worth $435,427,000 after acquiring an additional 75,465 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Icon by 18.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,060,499 shares of the medical research company’s stock worth $157,887,000 after acquiring an additional 162,853 shares during the last quarter. Finally, First Pacific Advisors LP grew its position in shares of Icon by 76.3% during the 2nd quarter. First Pacific Advisors LP now owns 964,120 shares of the medical research company’s stock valued at $140,231,000 after acquiring an additional 417,173 shares during the period. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Stock Up 0.1%

Shares of ICLR opened at $183.82 on Friday. The business’s 50 day moving average is $174.60 and its 200 day moving average is $162.68. 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 12-month low of $125.10 and a 12-month high of $228.29. The company has a market capitalization of $14.84 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 3.04 and a beta of 1.22.

Analyst Ratings Changes

ICLR has been the topic of several analyst reports. Barclays lowered their target price on Icon from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Friday, October 24th. Citigroup reaffirmed a “neutral” rating and set a $200.00 price objective (down from $225.00) on shares of Icon in a research report on Thursday, August 21st. BMO Capital Markets began coverage on shares of Icon in a report on Thursday, November 13th. They issued a “market perform” rating and a $175.00 target price for the company. TD Cowen decreased their target price on shares of Icon from $183.00 to $172.00 and set a “hold” rating on the stock in a research note on Friday, October 24th. Finally, Rothschild Redb upgraded shares of Icon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

About Icon

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.