Ruane Cunniff & Goldfarb L.P. Sells 44,979 Shares of Icon Plc $ICLR

Ruane Cunniff & Goldfarb L.P. lessened its holdings in shares of Icon Plc (NASDAQ:ICLR) by 2.7% during the first quarter, Holdings Channel reports. The firm owned 1,634,611 shares of the medical research company’s stock after selling 44,979 shares during the quarter. Icon makes up about 3.0% of Ruane Cunniff & Goldfarb L.P.’s investment portfolio, making the stock its 16th biggest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Icon were worth $180,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Toth Financial Advisory Corp bought a new stake in shares of Icon in the 4th quarter worth approximately $27,000. EFG International AG bought a new position in shares of Icon during the fourth quarter valued at approximately $27,000. Abound Financial LLC purchased a new stake in Icon in the fourth quarter worth $54,000. Johnson Financial Group Inc. purchased a new stake in Icon in the third quarter worth $71,000. Finally, Blue Trust Inc. boosted its holdings in Icon by 207.5% in the first quarter. Blue Trust Inc. now owns 658 shares of the medical research company’s stock valued at $73,000 after acquiring an additional 444 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.

Icon Trading Up 1.8%

NASDAQ:ICLR opened at $168.78 on Tuesday. The firm has a market capitalization of $12.92 billion, a P/E ratio of 30.03, a PEG 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. Icon Plc has a one year low of $66.57 and a one year high of $203.91. The company’s 50-day simple moving average is $152.21 and its 200 day simple moving average is $135.77.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ICLR shares. TD Cowen boosted their price objective on shares of Icon from $164.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Barclays raised their target price on shares of Icon from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. BMO Capital Markets lifted their target price on shares of Icon from $160.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. boosted their price target on shares of Icon from $130.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Finally, Citigroup upped their target price on Icon from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. 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’s stock. Based on data from MarketBeat, Icon presently has an average rating of “Hold” and a consensus target price of $168.73.

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.