Sound Shore Management Inc. CT Takes $69.38 Million Position in Icon Plc $ICLR

Sound Shore Management Inc. CT acquired a new position in Icon Plc (NASDAQ:ICLR) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 626,958 shares of the medical research company’s stock, valued at approximately $69,379,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new stake in shares of Icon in the 4th quarter worth $27,000. EFG International AG purchased a new stake in Icon in the 4th quarter worth $27,000. Abound Financial LLC bought a new position in shares of Icon in the fourth quarter worth about $54,000. Johnson Financial Group Inc. bought a new position in shares of Icon in the third quarter worth about $71,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of Icon during the third quarter worth about $78,000. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon Price Performance

ICLR stock opened at $170.00 on Monday. Icon Plc has a one year low of $66.57 and a one year high of $211.00. The firm has a market cap of $13.02 billion, a PE ratio of 30.25, a PEG ratio of 8.34 and a beta of 1.22. The firm’s 50 day moving average price is $146.22 and its 200-day moving average price is $136.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14.

Analyst Ratings Changes

ICLR has been the topic of a number of research analyst reports. Weiss Ratings cut Icon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Piper Sandler lowered shares of Icon to a “neutral” rating in a research report on Thursday, May 28th. Barclays upped their price objective on shares of Icon from $160.00 to $175.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. UBS Group set a $160.00 target price on shares of Icon in a research note on Wednesday, June 24th. Finally, Leerink Partners set a $145.00 target price on Icon in a report on Thursday, May 28th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Icon currently has an average rating of “Hold” and a consensus target price of $173.19.

About Icon

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.