California Public Employees Retirement System Sells 35,755 Shares of Icon Plc $ICLR

California Public Employees Retirement System lowered its stake in Icon Plc (NASDAQ:ICLR) by 22.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,297 shares of the medical research company’s stock after selling 35,755 shares during the period. California Public Employees Retirement System’s holdings in Icon were worth $13,312,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Icon by 26.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after purchasing an additional 975,268 shares during the period. Orbis Allan Gray Ltd boosted its stake in Icon by 1.8% during the fourth quarter. Orbis Allan Gray Ltd now owns 4,214,661 shares of the medical research company’s stock worth $767,996,000 after buying an additional 75,843 shares during the period. Invesco Ltd. increased its position in Icon by 9.6% during the fourth quarter. Invesco Ltd. now owns 3,756,896 shares of the medical research company’s stock valued at $684,582,000 after acquiring an additional 329,266 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Icon by 10.3% in the first quarter. Principal Financial Group Inc. now owns 3,311,771 shares of the medical research company’s stock valued at $366,481,000 after acquiring an additional 310,236 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Icon by 8.7% in the fourth quarter. Franklin Resources Inc. now owns 2,993,336 shares of the medical research company’s stock valued at $545,410,000 after acquiring an additional 239,808 shares during the period. 95.61% of the stock is owned by institutional investors.

Icon Trading Down 2.7%

Shares of ICLR opened at $165.76 on Friday. The firm has a market capitalization of $12.69 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 8.36 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14. Icon Plc has a 1-year low of $66.57 and a 1-year high of $203.91. The company has a 50-day moving average of $151.11 and a 200 day moving average of $136.43.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of Icon from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. UBS Group set a $160.00 price objective on shares of Icon in a research note on Wednesday, June 24th. Piper Sandler lowered Icon to a “neutral” rating in a research report on Thursday, May 28th. TD Cowen raised their price target on Icon from $164.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Jefferies Financial Group restated a “buy” rating and set a $165.00 price objective on shares of Icon in a report on Friday, May 29th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Icon currently has an average rating of “Hold” and a consensus price target of $168.73.

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.