Swedbank AB Reduces Stake in Icon Plc $ICLR

Swedbank AB reduced its position in Icon Plc (NASDAQ:ICLR) by 19.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,700 shares of the medical research company’s stock after selling 9,400 shares during the period. Swedbank AB’s holdings in Icon were worth $7,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Toth Financial Advisory Corp purchased a new position in shares of Icon in the 4th quarter worth $27,000. Ameriflex Group Inc. bought a new position in Icon in the 3rd quarter worth $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in Icon in the 3rd quarter worth $63,000. Johnson Financial Group Inc. bought a new position in Icon in the 3rd quarter worth $71,000. Finally, Quadrant Capital Group LLC bought a new position in Icon in the 3rd quarter worth $78,000. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ICLR shares. JPMorgan Chase & Co. decreased their target price on Icon from $175.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Barclays decreased their target price on Icon from $200.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, March 9th. Royal Bank Of Canada started coverage on Icon in a report on Monday, May 18th. They issued a “sector perform” rating and a $123.00 target price on the stock. Rothschild & Co Redburn set a $100.00 target price on Icon and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $75.00 target price on shares of Icon in a report on Thursday, February 12th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Icon has a consensus rating of “Hold” and an average price target of $145.67.

Icon Price Performance

Shares of Icon stock opened at $113.85 on Wednesday. The stock’s 50-day simple moving average is $111.14 and its 200-day simple moving average is $141.95. Icon Plc has a 52 week low of $66.57 and a 52 week high of $211.00. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 3.05 and a beta of 1.23. 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 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.