Swedbank AB Acquires 6,300 Shares of Icon Plc $ICLR

Swedbank AB raised its holdings in shares of Icon Plc (NASDAQ:ICLR) by 15.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,100 shares of the medical research company’s stock after purchasing an additional 6,300 shares during the period. Swedbank AB’s holdings in Icon were worth $8,418,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Artisan Partners Limited Partnership lifted its holdings in shares of Icon by 67.4% during the second quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company’s stock valued at $1,045,039,000 after purchasing an additional 2,893,946 shares in the last quarter. Harris Associates L P purchased a new position in Icon in the 2nd quarter worth about $238,256,000. Norges Bank bought a new position in Icon during the 2nd quarter valued at about $158,639,000. 1832 Asset Management L.P. lifted its stake in Icon by 587.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,151,328 shares of the medical research company’s stock valued at $167,461,000 after acquiring an additional 983,950 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Icon during the 2nd quarter valued at about $94,814,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Trading Down 0.5%

Shares of ICLR stock opened at $182.84 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 3.39 and a beta of 1.25. Icon Plc has a 1 year low of $125.10 and a 1 year high of $228.29. The firm has a fifty day moving average price of $175.36 and a 200-day moving average price of $169.89.

Analyst Ratings Changes

ICLR has been the subject of several research reports. Cowen reissued a “hold” rating on shares of Icon in a report on Friday, October 24th. BMO Capital Markets started coverage on shares of Icon in a research note on Thursday, November 13th. They set a “market perform” rating and a $175.00 target price for the company. Rothschild & Co Redburn raised Icon from a “neutral” rating to a “buy” rating and increased their price target for the company from $184.00 to $236.00 in a report on Wednesday, September 3rd. Bank of America lowered Icon from a “buy” rating to a “neutral” rating and set a $195.00 price objective for the company. in a report on Monday, December 15th. Finally, Leerink Partners set a $220.00 price objective on Icon in a research report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.31.

Icon 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.