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

JPMorgan Chase & Co. reduced its stake in Icon Plc (NASDAQ:ICLR) by 81.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hardy Reed LLC acquired a new stake in Icon in the 3rd quarter worth about $200,000. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Icon in the 3rd quarter valued at approximately $2,144,000. Assetmark Inc. grew its holdings in shares of Icon by 634.0% during the 3rd quarter. Assetmark Inc. now owns 3,134 shares of the medical research company’s stock valued at $548,000 after purchasing an additional 2,707 shares during the last quarter. Mitchell Capital Management Co. acquired a new stake in Icon in the third quarter valued at approximately $1,627,000. Finally, Rhumbline Advisers increased its holdings in Icon by 641.7% in the 3rd quarter. Rhumbline Advisers now owns 2,848 shares of the medical research company’s stock worth $498,000 after purchasing an additional 2,464 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors.

Icon Price Performance

ICLR opened at $108.14 on Monday. The firm has a 50-day moving average price of $159.45 and a 200-day moving average price of $170.30. 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 twelve month low of $66.57 and a twelve month high of $211.00. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.77 and a beta of 1.36.

Analysts Set New Price Targets

Several brokerages recently weighed in on ICLR. Leerink Partners reissued a “market perform” rating and issued a $105.00 price objective on shares of Icon in a research note on Thursday, February 12th. TD Cowen upgraded shares of Icon from a “hold” rating to a “buy” rating and lowered their price target for the stock from $183.00 to $120.00 in a report on Wednesday, February 18th. Bank of America reaffirmed an “underperform” rating and issued a $75.00 price objective on shares of Icon in a research note on Thursday, February 12th. Truist Financial reissued a “hold” rating and issued a $222.00 price target (down from $231.00) on shares of Icon in a research note on Thursday, January 8th. Finally, Rothschild & Co Redburn set a $100.00 price objective on shares of Icon and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Icon currently has an average rating of “Hold” and a consensus target price of $157.47.

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.