Hudson Bay Capital Management LP Sells 79,000 Shares of Icon Plc $ICLR

Hudson Bay Capital Management LP decreased its stake in shares of Icon Plc (NASDAQ:ICLR) by 40.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,000 shares of the medical research company’s stock after selling 79,000 shares during the period. Hudson Bay Capital Management LP owned approximately 0.14% of Icon worth $19,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ICLR. Artisan Partners Limited Partnership boosted its stake in Icon by 67.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company’s stock worth $1,045,039,000 after purchasing an additional 2,893,946 shares during the period. Principal Financial Group Inc. raised its stake in shares of Icon by 739.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock valued at $573,526,000 after purchasing an additional 2,886,755 shares during the period. Harris Associates L P acquired a new stake in shares of Icon in the 2nd quarter valued at about $238,256,000. Norges Bank bought a new stake in shares of Icon in the second quarter valued at about $158,639,000. Finally, 1832 Asset Management L.P. boosted its position in shares of Icon by 587.9% during the second quarter. 1832 Asset Management L.P. now owns 1,151,328 shares of the medical research company’s stock worth $167,461,000 after buying an additional 983,950 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ICLR has been the subject of a number of research reports. Barclays decreased their price objective on Icon from $200.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, March 9th. Zacks Research downgraded Icon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Truist Financial reaffirmed a “hold” rating and set a $222.00 price target (down from $231.00) on shares of Icon in a research note on Thursday, January 8th. Rothschild & Co Redburn set a $100.00 price objective on shares of Icon and gave the company a “neutral” rating in a report on Tuesday, February 17th. Finally, TD Cowen raised shares of Icon from a “hold” rating to a “buy” rating and cut their price objective for the stock from $183.00 to $120.00 in a research report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $146.80.

Icon Stock Down 3.3%

NASDAQ:ICLR opened at $97.14 on Thursday. Icon Plc has a twelve month low of $66.57 and a twelve month high of $211.00. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 2.57 and a beta of 1.35. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $137.95 and its two-hundred day moving average price is $163.84.

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.