Jennison Associates LLC Makes New Investment in Icon Plc $ICLR

Jennison Associates LLC bought a new position in Icon Plc (NASDAQ:ICLR) during the 4th quarter, Holdings Channel reports. The institutional investor bought 677,981 shares of the medical research company’s stock, valued at approximately $123,542,000.

Several other institutional investors and hedge funds have also bought and sold shares of ICLR. Private Trust Co. NA lifted its stake in Icon by 200.0% in the 3rd quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock worth $25,000 after purchasing an additional 94 shares in the last quarter. Toth Financial Advisory Corp purchased a new stake in Icon in the 4th quarter worth approximately $27,000. Ameriflex Group Inc. purchased a new stake in Icon in the 3rd quarter worth approximately $33,000. Wilmington Savings Fund Society FSB raised its position in shares of Icon by 153.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 332 shares of the medical research company’s stock valued at $58,000 after buying an additional 201 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Icon during the 3rd quarter valued at $63,000. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Icon Price Performance

ICLR stock opened at $112.81 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06. Icon Plc has a 52 week low of $66.57 and a 52 week high of $211.00. The firm’s fifty day moving average is $106.61 and its 200 day moving average is $149.44. The firm has a market cap of $9.11 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.61 and a beta of 1.28.

Analysts Set New Price Targets

Several research firms have recently weighed in on ICLR. Barclays lowered their price objective on shares of Icon from $200.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, March 9th. Robert W. Baird set a $119.00 price objective on shares of Icon in a research report on Friday, February 13th. Weiss Ratings cut shares of Icon from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 18th. TD Cowen upgraded shares of Icon from a “hold” rating to a “buy” rating and lowered their price objective for the company from $183.00 to $120.00 in a research report on Wednesday, February 18th. Finally, Mizuho set a $216.00 price objective on shares of Icon in a research report on Friday, January 9th. Seven 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $148.71.

Icon 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.