Maverick Capital Ltd. Makes New $1.54 Million Investment in Icon Plc $ICLR

Maverick Capital Ltd. bought a new position in shares of Icon Plc (NASDAQ:ICLR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,887 shares of the medical research company’s stock, valued at approximately $1,537,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Toth Financial Advisory Corp bought a new position in Icon in the fourth quarter worth approximately $27,000. EFG International AG bought a new stake in Icon during the 4th quarter valued at $27,000. Abound Financial LLC bought a new stake in Icon during the 4th quarter valued at $54,000. Johnson Financial Group Inc. purchased a new stake in shares of Icon in the 3rd quarter worth $71,000. Finally, Blue Trust Inc. lifted its holdings in shares of Icon by 207.5% in the 1st quarter. Blue Trust Inc. now owns 658 shares of the medical research company’s stock worth $73,000 after buying an additional 444 shares during the period. Institutional investors own 95.61% of the company’s stock.

Icon Price Performance

ICLR opened at $168.78 on Tuesday. The firm has a market capitalization of $12.92 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 8.14 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50-day moving average is $152.21 and its two-hundred day moving average is $135.77. Icon Plc has a 1 year low of $66.57 and a 1 year high of $203.91.

Analysts Set New Price Targets

Several brokerages have recently commented on ICLR. Mizuho raised their price target on Icon from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, June 26th. Leerink Partners set a $145.00 price objective on shares of Icon in a research note on Thursday, May 28th. Piper Sandler cut shares of Icon to a “neutral” rating in a report on Thursday, May 28th. Bank of America raised their target price on shares of Icon from $125.00 to $150.00 and gave the company an “underperform” rating in a research report on Thursday, June 25th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $165.00 price target on shares of Icon in a report on Friday, May 29th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $168.73.

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.