Entropy Technologies LP Boosts Holdings in Icon Plc $ICLR

Entropy Technologies LP grew its stake in Icon Plc (NASDAQ:ICLR) by 104.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,816 shares of the medical research company’s stock after purchasing an additional 6,546 shares during the quarter. Entropy Technologies LP’s holdings in Icon were worth $1,418,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Toth Financial Advisory Corp acquired a new stake in Icon in the 4th quarter worth about $27,000. EFG International AG purchased a new stake in shares of Icon during the fourth quarter worth $27,000. Abound Financial LLC acquired a new stake in shares of Icon in the fourth quarter valued at about $54,000. Johnson Financial Group Inc. acquired a new stake in shares of Icon in the third quarter valued at about $71,000. Finally, Blue Trust Inc. lifted its stake in shares of Icon by 207.5% in the first quarter. Blue Trust Inc. now owns 658 shares of the medical research company’s stock worth $73,000 after buying an additional 444 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ICLR. DA Davidson set a $164.00 price objective on shares of Icon in a research note on Monday, June 1st. Weiss Ratings cut shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Mizuho raised their price objective on Icon from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th. Truist Financial upgraded shares of Icon from a “hold” rating to a “buy” rating and lifted their target price for the company from $159.00 to $207.00 in a report on Tuesday, June 30th. Finally, Barclays lifted their target price on Icon from $160.00 to $175.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $168.73.

Icon Price Performance

Icon stock opened at $168.78 on Tuesday. The company has a fifty day simple moving average of $152.21 and a 200-day simple moving average of $135.77. The stock has a market cap of $12.92 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 8.14 and a beta of 1.22. Icon Plc has a 12-month low of $66.57 and a 12-month high of $203.91. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31.

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.