London Co. of Virginia Increases Holdings in Icon Plc $ICLR

London Co. of Virginia boosted its stake in Icon Plc (NASDAQ:ICLR) by 93.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,939 shares of the medical research company’s stock after acquiring an additional 13,501 shares during the quarter. London Co. of Virginia’s holdings in Icon were worth $3,092,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Icon by 26.6% during 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 acquiring an additional 975,268 shares in the last quarter. Orbis Allan Gray Ltd lifted its position in shares of 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 purchasing an additional 75,843 shares during the last quarter. Invesco Ltd. lifted its position in shares of Icon by 9.6% during the fourth quarter. Invesco Ltd. now owns 3,756,896 shares of the medical research company’s stock worth $684,582,000 after purchasing an additional 329,266 shares during the last quarter. Principal Financial Group Inc. grew its stake in 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 worth $366,481,000 after purchasing an additional 310,236 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Icon by 8.7% in the fourth quarter. Franklin Resources Inc. now owns 2,993,336 shares of the medical research company’s stock worth $545,410,000 after purchasing an additional 239,808 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ICLR. UBS Group set a $160.00 price target on shares of Icon in a report on Wednesday, June 24th. Weiss Ratings cut shares of Icon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. TD Cowen lifted their target price on Icon from $164.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Piper Sandler downgraded Icon to a “neutral” rating in a research note on Thursday, May 28th. Finally, Truist Financial upgraded Icon from a “hold” rating to a “buy” rating and increased their price target for the stock from $159.00 to $207.00 in a research report on Tuesday, June 30th. Seven 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, the stock currently has a consensus rating of “Hold” and an average target price of $168.73.

Icon Stock Performance

ICLR opened at $165.76 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. The firm has a market cap of $12.69 billion, a PE ratio of 29.49, a P/E/G ratio of 8.14 and a beta of 1.22. The business has a fifty day simple moving average of $151.11 and a 200-day simple moving average of $136.00. Icon Plc has a fifty-two week low of $66.57 and a fifty-two week high of $203.91.

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.