Prosight Management LP Raises Position in Icon Plc $ICLR

Prosight Management LP increased its position in Icon Plc (NASDAQ:ICLR) by 11.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,500 shares of the medical research company’s stock after buying an additional 10,942 shares during the period. Icon accounts for about 4.5% of Prosight Management LP’s investment portfolio, making the stock its 8th biggest position. Prosight Management LP owned about 0.14% of Icon worth $19,162,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its stake in Icon by 200.0% in the 3rd quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock worth $25,000 after acquiring an additional 94 shares during the last quarter. Ameriflex Group Inc. bought a new position in shares of Icon during the 3rd quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB raised its stake in Icon by 153.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 332 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 201 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Icon during the third quarter valued at $63,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Icon in the 3rd quarter worth $71,000. 95.61% of the stock is owned by institutional investors.

Icon Stock Up 0.9%

Shares of NASDAQ ICLR opened at $98.33 on Friday. Icon Plc has a 1 year low of $66.57 and a 1 year high of $211.00. The firm has a 50-day simple moving average of $144.09 and a two-hundred day simple moving average of $165.50. The company 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 debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06.

Analysts Set New Price Targets

ICLR has been the topic of a number of research reports. Rothschild & Co Redburn set a $100.00 target price on shares of Icon and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Bank of America reiterated an “underperform” rating and issued a $75.00 target price on shares of Icon in a report on Thursday, February 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Icon in a research report on Monday, December 29th. Citigroup decreased their price target on Icon from $200.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Zacks Research downgraded Icon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Icon 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.