Eversept Partners LP Trims Stake in Icon Plc $ICLR

Eversept Partners LP lessened its position in Icon Plc (NASDAQ:ICLR) by 28.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 68,688 shares of the medical research company’s stock after selling 27,144 shares during the period. Eversept Partners LP’s holdings in Icon were worth $7,601,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp purchased a new stake in Icon in the 4th quarter worth about $27,000. EFG International AG purchased a new position in shares of Icon during the fourth quarter valued at approximately $27,000. Abound Financial LLC purchased a new position in shares of Icon during the fourth quarter valued at approximately $54,000. Johnson Financial Group Inc. bought a new position in shares of Icon during the third quarter valued at approximately $71,000. Finally, Blue Trust Inc. grew its stake in shares of Icon by 207.5% during the first quarter. Blue Trust Inc. now owns 658 shares of the medical research company’s stock valued at $73,000 after buying an additional 444 shares during the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon Stock Up 1.8%

Shares of NASDAQ ICLR opened at $168.78 on Tuesday. Icon Plc has a 52-week low of $66.57 and a 52-week high of $203.91. The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 8.14 and a beta of 1.22. The stock has a 50 day moving average price of $152.21 and a 200 day moving average price of $135.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14.

Wall Street Analyst Weigh In

ICLR has been the subject of a number of research analyst reports. Mizuho raised their price target on Icon from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. BMO Capital Markets lifted their target price on Icon from $160.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. TD Cowen boosted their target price on shares of Icon from $164.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. upped their price target on shares of Icon from $130.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Finally, Truist Financial upgraded shares of Icon from a “hold” rating to a “buy” rating and upped their price target for the stock from $159.00 to $207.00 in a report on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.