Hudson Bay Capital Management LP Invests $28.07 Million in Icon Plc $ICLR

Hudson Bay Capital Management LP bought a new position in shares of Icon Plc (NASDAQ:ICLR) during the second quarter, Holdings Channel.com reports. The fund bought 193,000 shares of the medical research company’s stock, valued at approximately $28,072,000.

A number of other hedge funds have also recently bought and sold shares of ICLR. Artisan Partners Limited Partnership lifted its stake in shares of Icon by 67.4% in the second quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company’s stock valued at $1,045,039,000 after buying an additional 2,893,946 shares during the period. Financiere des Professionnels Fonds d investissement inc. raised its holdings in Icon by 31.0% in the 2nd quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,212 shares of the medical research company’s stock valued at $7,303,000 after acquiring an additional 11,894 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Icon by 11.2% in the 2nd quarter. American Century Companies Inc. now owns 531,395 shares of the medical research company’s stock worth $77,292,000 after acquiring an additional 53,458 shares during the period. Equity Investment Corp acquired a new position in shares of Icon in the second quarter valued at $82,264,000. Finally, Taikang Asset Management Hong Kong Co Ltd acquired a new stake in Icon during the second quarter worth $2,066,000. 95.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ICLR shares. Jefferies Financial Group lowered shares of Icon from a “buy” rating to a “hold” rating and dropped their price target for the stock from $220.00 to $175.00 in a research report on Tuesday, September 9th. Cowen reiterated a “hold” rating on shares of Icon in a research note on Friday, October 24th. BMO Capital Markets began coverage on shares of Icon in a research note on Thursday, November 13th. They issued a “market perform” rating and a $175.00 target price on the stock. Robert W. Baird set a $220.00 target price on shares of Icon in a report on Friday, October 24th. Finally, Citigroup reissued a “neutral” rating and set a $200.00 price target (down from $225.00) on shares of Icon in a report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.00.

Icon Stock Performance

Icon stock opened at $186.58 on Friday. The stock has a 50-day simple moving average of $176.51 and a 200 day simple moving average of $166.43. The stock has a market capitalization of $15.07 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 3.48 and a beta of 1.25. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. Icon Plc has a 12-month low of $125.10 and a 12-month high of $228.29.

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.