Rangeley Capital LLC Acquires New Stake in Icon Plc $ICLR

Rangeley Capital LLC acquired a new stake in Icon Plc (NASDAQ:ICLR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,700 shares of the medical research company’s stock, valued at approximately $1,959,000. Icon comprises approximately 1.8% of Rangeley Capital LLC’s portfolio, making the stock its 16th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Toth Financial Advisory Corp purchased a new stake in shares of Icon during the fourth quarter valued at $27,000. EFG International AG bought a new position in shares of Icon in the fourth quarter worth about $27,000. Abound Financial LLC purchased a new position in Icon in the 4th quarter worth about $54,000. Johnson Financial Group Inc. purchased a new position in Icon in the 3rd quarter worth about $71,000. Finally, Quadrant Capital Group LLC bought a new stake in Icon during the 3rd quarter valued at about $78,000. 95.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ICLR has been the subject of several research reports. Citigroup boosted their price objective on shares of Icon from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Bank of America raised their target price on shares of Icon from $125.00 to $150.00 and gave the stock an “underperform” rating in a research report on Thursday, June 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $165.00 price target on shares of Icon in a research note on Friday, May 29th. Leerink Partners set a $145.00 price objective on Icon in a research note on Thursday, May 28th. Finally, Barclays raised their price objective on Icon from $160.00 to $175.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $168.73.

Icon Stock Performance

NASDAQ:ICLR opened at $165.76 on Monday. Icon Plc has a one year low of $66.57 and a one year high of $203.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $12.69 billion, a P/E ratio of 29.49, a P/E/G ratio of 8.14 and a beta of 1.22. The firm has a 50-day simple moving average of $151.11 and a 200-day simple moving average of $136.00.

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.