Truist Financial Corp Trims Holdings in Icon Plc $ICLR

Truist Financial Corp decreased its stake in shares of Icon Plc (NASDAQ:ICLR) by 32.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,587 shares of the medical research company’s stock after selling 11,855 shares during the quarter. Truist Financial Corp’s holdings in Icon were worth $4,480,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ICLR. Toth Financial Advisory Corp purchased a new position in Icon during the fourth quarter worth approximately $27,000. Ameriflex Group Inc. purchased a new stake in Icon in the third quarter valued at $33,000. Wilmington Savings Fund Society FSB raised its position in Icon by 153.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 332 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 201 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in Icon in the third quarter valued at $63,000. Finally, Johnson Financial Group Inc. purchased a new stake in Icon in the third quarter valued at $71,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Icon Price Performance

NASDAQ:ICLR opened at $124.49 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $10.05 billion, a P/E ratio of 16.85, a P/E/G ratio of 3.25 and a beta of 1.23. Icon Plc has a 52 week low of $66.57 and a 52 week high of $211.00. The stock’s fifty day moving average is $108.25 and its two-hundred day moving average is $147.36.

Analysts Set New Price Targets

A number of research firms have commented on ICLR. Leerink Partners set a $125.00 target price on Icon in a research report on Monday, May 4th. TD Cowen upgraded Icon from a “hold” rating to a “buy” rating and reduced their target price for the company from $183.00 to $120.00 in a research report on Wednesday, February 18th. Citigroup reduced their target price on Icon from $200.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 11th. Jefferies Financial Group set a $135.00 target price on Icon and gave the company a “buy” rating in a research report on Monday, February 23rd. Finally, Zacks Research downgraded Icon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $149.38.

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.