ICON Public (NASDAQ:ICLR) Reaches New 12-Month Low – Time to Sell?

ICON Public Limited (NASDAQ:ICLR)’s stock price reached 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. The stock had previously closed at $223.85.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Leerink Partners cut their target price on ICON Public from $376.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Truist Financial lowered their target price on ICON Public from $363.00 to $295.00 and set a “buy” rating for the company in a report on Monday, October 28th. Robert W. Baird lowered shares of ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research note on Thursday, October 24th. Finally, StockNews.com lowered shares of ICON Public from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $304.27.

ICON Public Stock Performance

The stock’s 50-day simple moving average is $282.07 and its 200 day simple moving average is $306.05. The company has a market capitalization of $17.74 billion, a PE ratio of 24.82, a P/E/G ratio of 1.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34.

ICON Public (NASDAQ:ICLR) last posted 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 business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $3.10 EPS. As a group, research analysts expect that ICON Public Limited will post 13.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Several hedge funds and other institutional investors have recently made changes to their positions in ICLR. First National Bank of Hutchinson increased its stake in ICON Public by 5.7% in the first quarter. First National Bank of Hutchinson now owns 1,135 shares of the medical research company’s stock valued at $381,000 after purchasing an additional 61 shares during the last quarter. Motco raised its stake in ICON Public by 1.5% during the 1st quarter. Motco now owns 3,882 shares of the medical research company’s stock worth $1,304,000 after acquiring an additional 59 shares in the last quarter. SkyView Investment Advisors LLC acquired a new stake in ICON Public during the 1st quarter worth $1,021,000. EverSource Wealth Advisors LLC lifted its position in ICON Public by 17.4% in the first quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock valued at $95,000 after acquiring an additional 42 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in 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 acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds 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.