ICON Public (NASDAQ:ICLR) Reaches New 52-Week Low – Here’s Why

ICON Public Limited (NASDAQ:ICLR) hit a new 52-week low on Thursday . The company traded as low as $217.57 and last traded at $217.73, with a volume of 1698174 shares trading hands. The stock had previously closed at $223.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ICLR shares. JPMorgan Chase & Co. lowered their target price on shares of ICON Public from $375.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Truist Financial lowered their price objective on shares of ICON Public from $363.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Evercore ISI reduced their target price on shares of ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Robert W. Baird lowered ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price target on the stock. in a report on Thursday, October 24th. Finally, Barclays dropped their price target on ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $304.27.

ICON Public Stock Down 3.9 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $17.74 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.62 and a beta of 1.25. The firm has a fifty day moving average price of $282.07 and a 200 day moving average price of $306.05.

ICON Public (NASDAQ:ICLR) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37). The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. ICON Public’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.10 earnings per share. As a group, sell-side analysts expect that ICON Public Limited will post 13.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new position in ICON Public in the 2nd quarter valued at approximately $54,000. ORG Partners LLC acquired a new stake in ICON Public in the second quarter valued at $59,000. GAMMA Investing LLC increased its position in shares of ICON Public by 50.0% in the second quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock valued at $82,000 after buying an additional 87 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of ICON Public by 17.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock worth $95,000 after buying an additional 42 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of ICON Public by 119.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the medical research company’s stock worth $130,000 after buying an additional 226 shares in the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

ICON Public Company Profile

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.