Trinity Street Asset Management LLP Increases Stock Position in Icon Plc $ICLR

Trinity Street Asset Management LLP lifted its holdings in shares of Icon Plc (NASDAQ:ICLR) by 23.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,072,428 shares of the medical research company’s stock after purchasing an additional 201,455 shares during the quarter. Icon accounts for 12.3% of Trinity Street Asset Management LLP’s holdings, making the stock its 4th largest position. Trinity Street Asset Management LLP owned 1.33% of Icon worth $195,418,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in shares of Icon by 26.6% during the third quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock worth $811,499,000 after purchasing an additional 975,268 shares during the period. Invesco Ltd. increased its holdings in shares of Icon by 11.1% during the third quarter. Invesco Ltd. now owns 3,427,630 shares of the medical research company’s stock worth $599,835,000 after purchasing an additional 341,637 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Icon by 739.2% during the third quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock worth $573,526,000 after purchasing an additional 2,886,755 shares during the period. Ninety One UK Ltd increased its holdings in shares of Icon by 0.4% during the third quarter. Ninety One UK Ltd now owns 3,006,141 shares of the medical research company’s stock worth $526,075,000 after purchasing an additional 12,489 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Icon by 35.4% during the third quarter. Franklin Resources Inc. now owns 2,753,528 shares of the medical research company’s stock worth $481,692,000 after purchasing an additional 719,301 shares during the period. 95.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ICLR. Leerink Partners reaffirmed a “market perform” rating and set a $105.00 target price on shares of Icon in a report on Thursday, February 12th. Zacks Research cut shares of Icon from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 25th. Truist Financial reiterated a “hold” rating and set a $222.00 price target (down from $231.00) on shares of Icon in a research report on Thursday, January 8th. Weiss Ratings lowered shares of Icon from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 18th. Finally, Rothschild & Co Redburn set a $100.00 price target on shares of Icon and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Icon currently has an average rating of “Hold” and a consensus target price of $148.80.

Icon Stock Performance

NASDAQ ICLR opened at $106.54 on Thursday. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.89 and a beta of 1.28. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31. The firm’s 50 day simple moving average is $114.38 and its 200 day simple moving average is $156.58. Icon Plc has a 1 year low of $66.57 and a 1 year high of $211.00.

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.