Hudson Edge Investment Partners Inc. Boosts Stock Holdings in Icon Plc $ICLR

Hudson Edge Investment Partners Inc. increased its stake in Icon Plc (NASDAQ:ICLR) by 12.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 200,739 shares of the medical research company’s stock after acquiring an additional 22,164 shares during the quarter. Icon comprises 5.7% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 5th largest position. Hudson Edge Investment Partners Inc.’s holdings in Icon were worth $35,129,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Diversified Trust Co grew its stake in Icon by 6.2% in the 2nd quarter. Diversified Trust Co now owns 3,059 shares of the medical research company’s stock worth $445,000 after acquiring an additional 179 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Icon by 29.7% in the second quarter. Janney Montgomery Scott LLC now owns 26,145 shares of the medical research company’s stock valued at $3,803,000 after purchasing an additional 5,982 shares during the period. Truist Financial Corp grew its stake in Icon by 112.0% in the second quarter. Truist Financial Corp now owns 37,456 shares of the medical research company’s stock worth $5,448,000 after purchasing an additional 19,789 shares in the last quarter. Ninety One UK Ltd increased its holdings in Icon by 2.6% during the 2nd quarter. Ninety One UK Ltd now owns 2,993,652 shares of the medical research company’s stock worth $435,427,000 after purchasing an additional 75,465 shares during the period. Finally, Ninety One North America Inc. increased its holdings in Icon by 20.5% during the 2nd quarter. Ninety One North America Inc. now owns 428,851 shares of the medical research company’s stock worth $62,376,000 after purchasing an additional 72,945 shares during the period. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon Trading Up 4.7%

NASDAQ:ICLR opened at $184.87 on Thursday. The firm has a 50 day moving average of $180.43 and a 200 day moving average of $174.84. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. Icon Plc has a 52 week low of $125.10 and a 52 week high of $211.00. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 3.71 and a beta of 1.26.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ICLR shares. Truist Financial reiterated a “hold” rating and issued a $222.00 target price (down from $231.00) on shares of Icon in a report on Thursday, January 8th. Leerink Partners reaffirmed an “outperform” rating on shares of Icon in a research note on Monday, January 5th. Zacks Research raised shares of Icon from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings restated a “hold (c)” rating on shares of Icon in a report on Monday, December 29th. Finally, Mizuho set a $216.00 price objective on shares of Icon in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $199.87.

Icon Company 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.