Diamond Hill Capital Management Inc. Increases Stock Position in Icon Plc $ICLR

Diamond Hill Capital Management Inc. boosted its stake in Icon Plc (NASDAQ:ICLR) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 239,142 shares of the medical research company’s stock after buying an additional 4,702 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Icon were worth $43,576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ICLR. Toth Financial Advisory Corp bought a new position in Icon during the fourth quarter valued at approximately $27,000. Ameriflex Group Inc. bought a new position in shares of Icon in the third quarter worth approximately $33,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Icon by 153.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 332 shares of the medical research company’s stock worth $58,000 after purchasing an additional 201 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Icon in the third quarter worth approximately $63,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Icon in the third quarter worth approximately $71,000. 95.61% of the stock is currently owned by institutional investors.

Icon Price Performance

ICLR opened at $116.57 on Friday. The stock has a 50-day moving average price of $110.21 and a 200-day moving average price of $142.99. 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 firm has a market cap of $9.41 billion, a PE ratio of 15.77, a P/E/G ratio of 3.01 and a beta of 1.23. Icon Plc has a 1 year low of $66.57 and a 1 year high of $211.00.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ICLR. BMO Capital Markets upgraded shares of Icon from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $130.00 in a report on Thursday, March 26th. Zacks Research cut shares of Icon from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 25th. Robert W. Baird set a $119.00 price target on shares of Icon in a report on Friday, February 13th. Rothschild & Co Redburn set a $100.00 price target on shares of Icon and gave the company a “neutral” rating in a report on Tuesday, February 17th. Finally, Leerink Partners set a $125.00 price objective on Icon in a research report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Icon has a consensus rating of “Hold” and a consensus target price of $145.67.

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.