Portland Investment Counsel Inc. Raises Position in Icon Plc $ICLR

Portland Investment Counsel Inc. raised its stake in shares of Icon Plc (NASDAQ:ICLR) by 50.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,000 shares of the medical research company’s stock after purchasing an additional 1,000 shares during the period. Portland Investment Counsel Inc.’s holdings in Icon were worth $434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SVB Wealth LLC purchased a new stake in Icon in the 1st quarter worth $28,000. Ameritas Advisory Services LLC bought a new stake in Icon in the 2nd quarter worth approximately $48,000. LRI Investments LLC purchased a new stake in Icon during the second quarter valued at $49,000. Blue Trust Inc. raised its position in shares of Icon by 44.0% during the 2nd quarter. Blue Trust Inc. now owns 393 shares of the medical research company’s stock valued at $57,000 after buying an additional 120 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Icon by 40,800.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the medical research company’s stock valued at $59,000 after purchasing an additional 408 shares during the period. 95.61% of the stock is owned by hedge funds and other institutional investors.

Icon Stock Up 5.2%

Shares of ICLR stock opened at $183.65 on Friday. 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 stock has a 50 day moving average of $174.40 and a 200 day moving average of $162.38. Icon Plc has a twelve month low of $125.10 and a twelve month high of $228.29. The stock has a market cap of $14.83 billion, a P/E ratio of 24.85, a P/E/G ratio of 3.04 and a beta of 1.22.

Analyst Ratings Changes

Several research firms have recently issued reports on ICLR. BMO Capital Markets initiated coverage on shares of Icon in a report on Thursday, November 13th. They issued a “market perform” rating and a $175.00 target price for the company. Cowen reissued a “hold” rating on shares of Icon in a research report on Friday, October 24th. Barclays cut their price objective on shares of Icon from $190.00 to $185.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. TD Cowen dropped their price objective on Icon from $183.00 to $172.00 and set a “hold” rating on the stock in a research report on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Icon in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.00.

About Icon

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.