ICON Public (NASDAQ:ICLR) Sets New 52-Week Low – Here’s What Happened

ICON Public Limited (NASDAQ:ICLR)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $168.00 and last traded at $170.77, with a volume of 543736 shares trading hands. The stock had previously closed at $179.07.

Analyst Ratings Changes

ICLR has been the subject of several analyst reports. Barclays lowered their target price on shares of ICON Public from $275.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, February 21st. JPMorgan Chase & Co. reduced their price target on ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup reduced their target price on ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $263.00 price objective on shares of ICON Public in a research note on Wednesday, January 15th. Finally, Robert W. Baird dropped their target price on ICON Public from $221.00 to $203.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ICON Public currently has an average rating of “Moderate Buy” and an average target price of $272.50.

ICON Public Stock Down 4.8 %

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.34. The firm’s 50 day moving average price is $189.19 and its two-hundred day moving average price is $219.81. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.86 and a beta of 1.21.

ICON Public (NASDAQ:ICLR) last announced its earnings results on Wednesday, February 19th. The medical research company reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.01. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.04 billion. As a group, sell-side analysts forecast that ICON Public Limited will post 13.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Hedge funds have recently modified their holdings of the company. Foyston Gordon & Payne Inc grew its stake in ICON Public by 27.3% in the 4th quarter. Foyston Gordon & Payne Inc now owns 51,713 shares of the medical research company’s stock worth $10,845,000 after acquiring an additional 11,089 shares during the period. Captrust Financial Advisors grew its position in shares of ICON Public by 2.0% in the fourth quarter. Captrust Financial Advisors now owns 35,301 shares of the medical research company’s stock valued at $7,403,000 after purchasing an additional 701 shares during the period. State of Tennessee Department of Treasury increased its stake in ICON Public by 1.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 158,947 shares of the medical research company’s stock valued at $33,333,000 after purchasing an additional 1,600 shares during the last quarter. Motley Fool Wealth Management LLC increased its stake in ICON Public by 2.3% in the fourth quarter. Motley Fool Wealth Management LLC now owns 64,038 shares of the medical research company’s stock valued at $13,342,000 after purchasing an additional 1,466 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in ICON Public by 128.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,166 shares of the medical research company’s stock worth $245,000 after buying an additional 655 shares during the period. 95.61% of the stock is owned by institutional investors and hedge funds.

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.