Sands Capital Management LLC Cuts Stake in Icon Plc $ICLR

Sands Capital Management LLC lessened its holdings in shares of Icon Plc (NASDAQ:ICLR) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 91,550 shares of the medical research company’s stock after selling 2,774 shares during the quarter. Sands Capital Management LLC’s holdings in Icon were worth $13,316,000 as of its most recent SEC filing.

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

Icon Price Performance

Shares of NASDAQ ICLR opened at $183.14 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $14.79 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 3.04 and a beta of 1.22. The firm’s 50 day simple moving average is $175.03 and its 200-day simple moving average is $163.76. Icon Plc has a 12 month low of $125.10 and a 12 month high of $228.29.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ICLR. Citigroup reaffirmed a “neutral” rating and issued a $200.00 price target (down previously from $225.00) on shares of Icon in a report on Thursday, August 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Icon in a research report on Monday. Barclays lowered their price target on Icon from $190.00 to $185.00 and set an “equal weight” rating for the company in a research report on Friday, October 24th. Cowen reissued a “hold” rating on shares of Icon in a report on Friday, October 24th. Finally, Zacks Research raised Icon from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

Icon Profile

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.