Diamond Hill Capital Management Inc. Sells 27,173 Shares of Icon Plc $ICLR

Diamond Hill Capital Management Inc. lowered its position in shares of Icon Plc (NASDAQ:ICLR) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 234,440 shares of the medical research company’s stock after selling 27,173 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Icon were worth $41,027,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ICLR. Ameritas Advisory Services LLC bought a new stake in shares of Icon during the 2nd quarter valued at about $48,000. DAVENPORT & Co LLC acquired a new stake in shares of Icon during the 2nd quarter worth approximately $403,000. Blue Trust Inc. increased its stake in shares of Icon by 44.0% in the 2nd quarter. Blue Trust Inc. now owns 393 shares of the medical research company’s stock valued at $57,000 after acquiring an additional 120 shares in the last quarter. Aberdeen Group plc lifted its position in shares of Icon by 5.6% during the 2nd quarter. Aberdeen Group plc now owns 59,211 shares of the medical research company’s stock valued at $8,612,000 after acquiring an additional 3,165 shares during the period. Finally, Inspire Investing LLC boosted its stake in Icon by 42.2% during the second quarter. Inspire Investing LLC now owns 14,691 shares of the medical research company’s stock worth $2,137,000 after acquiring an additional 4,362 shares in the last quarter. 95.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ICLR. Zacks Research raised shares of Icon from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Bank of America downgraded Icon from a “buy” rating to a “neutral” rating and set a $195.00 price objective for the company. in a report on Monday, December 15th. Mizuho set a $216.00 target price on Icon in a report on Friday, January 9th. BMO Capital Markets assumed coverage on shares of Icon in a research note on Thursday, November 13th. They set a “market perform” rating and a $175.00 price target for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Icon in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $200.60.

Icon Trading Up 3.6%

Shares of Icon stock opened at $150.59 on Friday. The stock has a market capitalization of $12.16 billion, a P/E ratio of 20.38, a P/E/G ratio of 3.18 and a beta of 1.27. Icon Plc has a 52-week low of $125.10 and a 52-week high of $211.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50-day simple moving average is $182.27 and its 200 day simple moving average is $177.10.

Icon Company 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.