ICON Public (NASDAQ:ICLR) Reaches New 12-Month Low – Here’s Why

Shares of ICON Public Limited (NASDAQ:ICLR) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $150.91 and last traded at $153.62, with a volume of 819 shares. The stock had previously closed at $153.72.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ICLR. Robert W. Baird reduced their price objective on ICON Public from $221.00 to $203.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $263.00 price target on shares of ICON Public in a research note on Wednesday, January 15th. The Goldman Sachs Group cut shares of ICON Public from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $200.00 in a research note on Friday, March 21st. Citigroup decreased their target price on shares of ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial cut their target price on ICON Public from $284.00 to $262.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $265.82.

ICON Public Stock Performance

The company has a current ratio of 1.26, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.86 and a beta of 1.24. The stock’s 50 day moving average is $186.79 and its 200 day moving average is $216.96.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.01. ICON Public had a net margin of 9.56% and a return on equity of 11.81%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.04 billion. On average, analysts predict that ICON Public Limited will post 13.38 earnings per share for the current year.

Institutional Trading of ICON Public

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICLR. Foyston Gordon & Payne Inc purchased a new position in shares of ICON Public during the 3rd quarter worth about $11,672,000. GAMMA Investing LLC raised its stake in ICON Public by 64.0% during the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after purchasing an additional 169 shares during the period. Steph & Co. boosted its holdings in shares of ICON Public by 3.7% in the 4th quarter. Steph & Co. now owns 1,560 shares of the medical research company’s stock valued at $327,000 after purchasing an additional 55 shares during the last quarter. Park Place Capital Corp grew its stake in shares of ICON Public by 281.4% during the 4th quarter. Park Place Capital Corp now owns 225 shares of the medical research company’s stock valued at $47,000 after buying an additional 166 shares during the period. Finally, Avior Wealth Management LLC increased its holdings in shares of ICON Public by 76.0% during the 4th quarter. Avior Wealth Management LLC now owns 894 shares of the medical research company’s stock worth $187,000 after buying an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

About ICON Public

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.