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

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays reduced 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 report on Friday, February 21st. Robert W. Baird lowered their price target on shares of ICON Public from $221.00 to $203.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of ICON Public in a research report on Tuesday, January 14th. Finally, Truist Financial lowered their target price on ICON Public from $284.00 to $262.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ICON Public currently has an average rating of “Moderate Buy” and an average target price of $279.17.

ICON Public Stock Performance

The stock has a market cap of $14.31 billion, a P/E ratio of 18.58, a PEG ratio of 1.86 and a beta of 1.21. The stock has a fifty day simple moving average of $198.61 and a 200-day simple moving average of $234.40. 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 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.01. The business had revenue of $2.04 billion for 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%. Equities analysts expect that ICON Public Limited will post 13.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ICON Public

Several institutional investors and hedge funds have recently made changes to their positions in the company. Foyston Gordon & Payne Inc acquired a new stake in ICON Public during the 3rd quarter worth $11,672,000. Kornitzer Capital Management Inc. KS increased its holdings in shares of ICON Public by 40.6% in 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 in the last quarter. Icon Wealth Advisors LLC raised its position in shares of 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 worth $3,797,000 after purchasing an additional 11,840 shares during the period. Natixis Advisors LLC lifted its holdings in shares of ICON Public by 6.7% during the 4th quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company’s stock valued at $37,279,000 after purchasing an additional 11,177 shares in the last quarter. Finally, Entropy Technologies LP grew its position 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 purchasing an additional 5,095 shares during the period. 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.