JPMorgan Chase & Co. Sells 614,165 Shares of Icon Plc $ICLR

JPMorgan Chase & Co. reduced its position in shares of Icon Plc (NASDAQ:ICLR) by 81.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 138,868 shares of the medical research company’s stock after selling 614,165 shares during the quarter. JPMorgan Chase & Co.’s holdings in Icon were worth $24,302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ICLR. Private Trust Co. NA grew its stake in Icon by 200.0% in the third quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 94 shares during the period. Ameriflex Group Inc. acquired a new position in shares of Icon during the third quarter worth approximately $33,000. Wilmington Savings Fund Society FSB raised its position in shares of Icon by 153.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 332 shares of the medical research company’s stock worth $58,000 after purchasing an additional 201 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Icon in the 3rd quarter worth $63,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Icon in the 3rd quarter worth $71,000. Institutional investors own 95.61% of the company’s stock.

Icon Trading Up 0.7%

Shares of Icon stock opened at $100.35 on Tuesday. The company has a market capitalization of $8.10 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 2.55 and a beta of 1.36. The stock has a fifty day simple moving average of $132.92 and a 200 day simple moving average of $162.07. Icon Plc has a 12-month low of $66.57 and a 12-month high of $211.00. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

ICLR has been the subject of a number of recent research reports. Rothschild & Co Redburn set a $100.00 price target on shares of Icon and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Truist Financial reaffirmed a “hold” rating and issued a $222.00 price objective (down from $231.00) on shares of Icon in a research note on Thursday, January 8th. Barclays reduced their price objective on shares of Icon from $200.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, March 9th. Citigroup decreased their target price on shares of Icon from $200.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, March 11th. Finally, TD Cowen upgraded shares of Icon from a “hold” rating to a “buy” rating and lowered their target price for the stock from $183.00 to $120.00 in a report on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Icon has a consensus rating of “Hold” and an average target price of $146.80.

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.