ICON Public (NASDAQ:ICLR) Reaches New 52-Week Low – What’s Next?

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut shares of ICON Public from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $200.00 in a research report on Friday, March 21st. Citigroup lowered their price target on ICON Public from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial reduced their price objective on ICON Public from $284.00 to $262.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on 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, Royal Bank of Canada restated an “outperform” rating and issued a $263.00 price target on shares of ICON Public in a report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $272.50.

ICON Public Trading Down 4.8 %

The stock 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. The business’s fifty day simple moving average is $189.19 and its 200 day simple moving average is $219.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.34.

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

Institutional Trading of ICON Public

Several hedge funds have recently made changes to their positions in the stock. 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. State of Tennessee Department of Treasury boosted its holdings in shares of ICON Public by 1.0% during 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 acquiring an additional 1,600 shares during the period. Kornitzer Capital Management Inc. KS grew its position in shares of ICON Public by 40.6% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company’s stock worth $20,363,000 after acquiring an additional 28,050 shares during the last quarter. Motley Fool Wealth Management LLC increased its holdings in shares of 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 worth $13,342,000 after acquiring an additional 1,466 shares during the period. Finally, Foyston Gordon & Payne Inc lifted its position 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 valued at $10,845,000 after purchasing an additional 11,089 shares during the last quarter. 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.