Lakewood Capital Management LP Increases Stock Position in Icon Plc $ICLR

Lakewood Capital Management LP grew its holdings in shares of Icon Plc (NASDAQ:ICLR) by 22.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 239,200 shares of the medical research company’s stock after buying an additional 44,000 shares during the period. Icon makes up 3.2% of Lakewood Capital Management LP’s investment portfolio, making the stock its 14th largest position. Lakewood Capital Management LP’s holdings in Icon were worth $41,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of Icon by 64.4% in the 2nd quarter. Allworth Financial LP now owns 1,396 shares of the medical research company’s stock worth $203,000 after acquiring an additional 547 shares in the last quarter. Geode Capital Management LLC boosted its stake in Icon by 2.6% during the second quarter. Geode Capital Management LLC now owns 84,370 shares of the medical research company’s stock worth $12,272,000 after acquiring an additional 2,159 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 purchasing an additional 650,379 shares during the period. SG Americas Securities LLC increased its stake in shares of Icon by 12.3% during the second quarter. SG Americas Securities LLC now owns 15,962 shares of the medical research company’s stock valued at $2,322,000 after purchasing an additional 1,743 shares in the last quarter. Finally, Raiffeisen Bank International AG increased its stake in shares of Icon by 7.1% during the second quarter. Raiffeisen Bank International AG now owns 7,500 shares of the medical research company’s stock valued at $1,094,000 after purchasing an additional 500 shares in the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon Price Performance

Shares of NASDAQ ICLR opened at $98.33 on Friday. Icon Plc has a twelve month low of $66.57 and a twelve month high of $211.00. The firm has a market cap of $7.94 billion, a P/E ratio of 13.31, a PEG ratio of 2.50 and a beta of 1.35. The company has a 50 day moving average of $144.09 and a 200 day moving average of $165.50. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Mizuho set a $216.00 price target on Icon in a research report on Friday, January 9th. Zacks Research lowered Icon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. TD Cowen raised Icon from a “hold” rating to a “buy” rating and dropped their target price for the stock from $183.00 to $120.00 in a report on Wednesday, February 18th. Jefferies Financial Group set a $135.00 target price on Icon and gave the stock a “buy” rating in a research note on Monday, February 23rd. Finally, BMO Capital Markets restated a “market perform” rating and set a $100.00 price target on shares of Icon in a report on Thursday, February 12th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Icon currently has an average rating of “Hold” and a consensus target price of $146.80.

Icon Company 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.