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

Shares of ICON Public Limited (NASDAQ:ICLR) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $137.87 and last traded at $138.97, with a volume of 259891 shares. The stock had previously closed at $143.54.

Analysts Set New Price Targets

A number of research analysts have issued reports on ICLR shares. Robert W. Baird cut their price objective on ICON Public from $221.00 to $203.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. JPMorgan Chase & Co. cut their price target on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Truist Financial lowered their price target on shares of ICON Public from $262.00 to $208.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $263.00 price target on shares of ICON Public in a report on Wednesday, January 15th. Finally, Mizuho reduced their price target on ICON Public from $238.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.67.

ICON Public Trading Down 2.5 %

The stock has a market cap of $11.30 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. The stock has a 50-day moving average of $176.61 and a 200 day moving average of $208.45. The company has a quick ratio of 1.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.36.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data 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. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. ICON Public had a net margin of 9.56% and a return on equity of 11.81%. As a group, sell-side analysts anticipate 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 the business. Tributary Capital Management LLC raised its position in ICON Public by 116.1% during the fourth 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 last quarter. GAMMA Investing LLC increased its stake in shares of ICON Public by 64.0% in the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after buying an additional 169 shares during the last quarter. Entropy Technologies LP increased its holdings in shares of 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 last quarter. Natixis Advisors LLC grew its stake in ICON Public by 6.7% during the 4th quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company’s stock worth $37,279,000 after buying an additional 11,177 shares during the last quarter. Finally, Motley Fool Wealth Management LLC increased its position in ICON Public by 2.3% in the 4th quarter. Motley Fool Wealth Management LLC now owns 64,038 shares of the medical research company’s stock valued at $13,342,000 after acquiring an additional 1,466 shares during the period. 95.61% of the stock is currently 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.