Capital International Inc. CA Acquires 14,059 Shares of Icon Plc $ICLR

Capital International Inc. CA raised its holdings in Icon Plc (NASDAQ:ICLR) by 499.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,872 shares of the medical research company’s stock after purchasing an additional 14,059 shares during the quarter. Capital International Inc. CA’s holdings in Icon were worth $3,074,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ICLR. Harris Associates L P acquired a new position in shares of Icon in the second quarter valued at approximately $238,256,000. Wellington Management Group LLP raised its position in 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 valued at $811,499,000 after purchasing an additional 975,268 shares in the last quarter. Norges Bank acquired a new position in Icon during the fourth quarter valued at approximately $160,073,000. Franklin Resources Inc. raised its position in Icon by 35.4% during the third quarter. Franklin Resources Inc. now owns 2,753,528 shares of the medical research company’s stock valued at $481,692,000 after purchasing an additional 719,301 shares in the last quarter. Finally, Boston Partners grew its stake 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 buying an additional 682,597 shares during the last quarter. Institutional investors own 95.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ICLR. TD Cowen boosted their target price on shares of Icon from $120.00 to $164.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Truist Financial lifted their price target on shares of Icon from $139.00 to $159.00 and gave the stock a “hold” rating in a report on Friday, May 29th. Piper Sandler lowered shares of Icon to a “neutral” rating in a report on Thursday, May 28th. Barclays lifted their price target on shares of Icon from $120.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Finally, Bank of America reissued an “outperform” rating on shares of Icon in a research note on Monday, June 1st. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Icon presently has an average rating of “Hold” and a consensus target price of $156.44.

Icon Stock Performance

Shares of ICLR stock opened at $152.24 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $118.50 and a two-hundred day simple moving average of $140.68. The firm has a market capitalization of $11.66 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 11.81 and a beta of 1.26. Icon Plc has a 12 month low of $66.57 and a 12 month high of $211.00.

Icon (NASDAQ:ICLR) last posted its earnings results on Wednesday, June 10th. The medical research company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.47 by $0.05. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.99 billion. Icon had a net margin of 5.98% and a return on equity of 9.50%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.43 earnings per share. Analysts forecast that Icon Plc will post 9.74 EPS for the current fiscal year.

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.