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

ICON Public Limited (NASDAQ:ICLR) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $175.94 and last traded at $176.62, with a volume of 190504 shares changing hands. The stock had previously closed at $182.72.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ICLR. William Blair reissued an “outperform” rating on shares of ICON Public in a research report on Tuesday, January 14th. Truist Financial lowered their price objective on shares of ICON Public from $284.00 to $262.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Barclays cut their target price on shares of ICON Public from $275.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their price target on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Leerink Partners restated an “outperform” rating and issued a $255.00 target price (down from $270.00) on shares of ICON Public in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ICON Public currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.17.

ICON Public Stock Performance

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 company’s fifty day moving average price is $197.41 and its 200 day moving average price is $233.01. The company has a market cap of $14.45 billion, a PE ratio of 18.78, a P/E/G ratio of 1.86 and a beta of 1.21.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ICLR. Icon Wealth Advisors LLC grew its position in ICON Public by 861.1% during the third quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock valued at $3,797,000 after buying an additional 11,840 shares during the period. Foyston Gordon & Payne Inc purchased a new position in shares of ICON Public during the 3rd quarter valued at $11,672,000. Tributary Capital Management LLC grew its stake in shares of ICON Public by 116.1% during the 4th quarter. Tributary Capital Management LLC now owns 3,950 shares of the medical research company’s stock worth $828,000 after acquiring an additional 2,122 shares during the period. GAMMA Investing LLC increased its holdings in ICON Public by 64.0% in the 4th quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after acquiring an additional 169 shares during the last quarter. Finally, Entropy Technologies LP raised its stake in ICON Public by 472.2% in the 4th quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock valued at $1,295,000 after acquiring an additional 5,095 shares during the period. 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.