CIBC Bancorp USA Inc. Invests $39.07 Million in Icon Plc $ICLR

CIBC Bancorp USA Inc. bought a new stake in shares of Icon Plc (NASDAQ:ICLR) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 223,281 shares of the medical research company’s stock, valued at approximately $39,074,000. CIBC Bancorp USA Inc. owned 0.28% of Icon as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Muhlenkamp & Co. Inc. purchased a new position in Icon in the third quarter valued at about $12,857,000. Mitchell Capital Management Co. purchased a new stake in Icon during the 3rd quarter worth approximately $1,627,000. First National Bank of Omaha purchased a new stake in Icon during the 3rd quarter worth approximately $6,267,000. Tributary Capital Management LLC raised its position in shares of Icon by 84.5% in the 3rd quarter. Tributary Capital Management LLC now owns 11,752 shares of the medical research company’s stock valued at $2,057,000 after purchasing an additional 5,381 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Icon by 35.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,753,528 shares of the medical research company’s stock valued at $481,692,000 after purchasing an additional 719,301 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Icon Stock Performance

ICLR stock opened at $100.49 on Wednesday. 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 has a market cap of $8.12 billion, a P/E ratio of 13.60, a P/E/G ratio of 2.50 and a beta of 1.36. Icon Plc has a 12-month low of $66.57 and a 12-month high of $211.00. The stock’s 50 day simple moving average is $140.07 and its 200 day simple moving average is $164.30.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Leerink Partners reissued a “market perform” rating and set a $105.00 price target on shares of Icon in a research report on Thursday, February 12th. Jefferies Financial Group set a $135.00 price objective on shares of Icon and gave the company a “buy” rating in a research note on Monday, February 23rd. Truist Financial reissued a “hold” rating and set a $222.00 price objective (down from $231.00) on shares of Icon in a report on Thursday, January 8th. Zacks Research downgraded shares of Icon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Finally, Mizuho set a $216.00 target price on shares of Icon in a research note on Friday, January 9th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Icon presently has a consensus rating of “Hold” and an average target price of $146.80.

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.