Short Interest in ICON Public Limited (NASDAQ:ICLR) Rises By 18.5%

ICON Public Limited (NASDAQ:ICLR) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,280,000 shares, a growth of 18.5% from the October 31st total of 1,080,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the short-interest ratio is currently 1.1 days. Approximately 1.6% of the company’s stock are short sold.

ICON Public Stock Performance

ICLR traded up $3.31 during trading on Monday, hitting $213.56. The stock had a trading volume of 1,662,359 shares, compared to its average volume of 738,913. The firm has a market cap of $17.62 billion, a PE ratio of 23.25, a P/E/G ratio of 1.56 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. ICON Public has a 12 month low of $183.38 and a 12 month high of $347.72. The company has a 50 day simple moving average of $249.33 and a 200-day simple moving average of $293.92.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.10 earnings per share. Analysts expect that ICON Public will post 13.42 EPS for the current year.

Institutional Investors Weigh In On ICON Public

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Foyston Gordon & Payne Inc acquired a new position in shares of ICON Public in the third quarter valued at $11,672,000. Icon Wealth Advisors LLC increased its holdings in ICON Public by 861.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock valued at $3,797,000 after purchasing an additional 11,840 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of ICON Public by 33.9% during the third quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company’s stock worth $172,000 after purchasing an additional 151 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of ICON Public by 5.0% in the third quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company’s stock valued at $371,000 after buying an additional 62 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of ICON Public by 23.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock worth $147,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ICLR. Barclays dropped their price target on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price target on ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Truist Financial lowered their price target on ICON Public from $363.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, October 28th. TD Cowen cut their price objective on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, The Goldman Sachs Group decreased their target price on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.45.

ICON Public Company Profile

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.