Neuberger Berman Group LLC lowered its position in Icon Plc (NASDAQ:ICLR) by 17.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,281,126 shares of the medical research company’s stock after selling 270,305 shares during the period. Neuberger Berman Group LLC owned approximately 2.37% of Icon worth $145,895,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. WCM Investment Management CA lifted its holdings in Icon by 2.1% in the third quarter. WCM Investment Management CA now owns 4,047,221 shares of the medical research company’s stock valued at $460,897,000 after acquiring an additional 82,115 shares during the period. FMR LLC lifted its holdings in Icon by 38.4% in the second quarter. FMR LLC now owns 2,291,005 shares of the medical research company’s stock valued at $224,037,000 after acquiring an additional 635,950 shares during the period. Wasatch Advisors Inc. lifted its holdings in Icon by 0.7% in the second quarter. Wasatch Advisors Inc. now owns 1,850,244 shares of the medical research company’s stock valued at $180,935,000 after acquiring an additional 13,104 shares during the period. Renaissance Technologies LLC lifted its holdings in Icon by 20.6% in the second quarter. Renaissance Technologies LLC now owns 1,153,160 shares of the medical research company’s stock valued at $112,768,000 after acquiring an additional 197,300 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Icon by 48.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,068,159 shares of the medical research company’s stock worth $104,488,000 after buying an additional 348,292 shares during the period. Hedge funds and other institutional investors own 89.95% of the company’s stock.
Icon Plc (ICLR) opened at $113.52 on Friday. Icon Plc has a 52 week low of $73.76 and a 52 week high of $124.48. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6,166.29, a price-to-earnings ratio of 21.86, a P/E/G ratio of 1.76 and a beta of 0.56.
Several brokerages have recently weighed in on ICLR. KeyCorp reaffirmed an “overweight” rating and set a $125.00 target price (up from $115.00) on shares of Icon in a research note on Monday, November 13th. They noted that the move was a valuation call. Zacks Investment Research downgraded Icon from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. SunTrust Banks reaffirmed a “buy” rating and set a $138.00 target price on shares of Icon in a research note on Sunday, October 29th. Barclays upped their target price on Icon from $108.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $120.00 target price (up from $105.00) on shares of Icon in a research note on Monday, October 16th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Icon has a consensus rating of “Buy” and an average target price of $121.00.
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ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.
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