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

Shares of ICON Public Limited (NASDAQ:ICLR) reached a new 52-week low on Wednesday . The company traded as low as $133.28 and last traded at $136.79, with a volume of 3967892 shares. The stock had previously closed at $137.23.

Wall Street Analyst Weigh In

ICLR has been the subject of several recent research reports. Barclays reaffirmed an “equal weight” rating and issued a $165.00 price target (down previously from $240.00) on shares of ICON Public in a report on Thursday, April 10th. Royal Bank of Canada restated an “outperform” rating and issued a $263.00 target price on shares of ICON Public in a research note on Wednesday, January 15th. TD Cowen downgraded shares of ICON Public from a “buy” rating to a “hold” rating and decreased their price target for the stock from $254.00 to $157.00 in a research note on Monday, April 14th. Truist Financial dropped their price objective on shares of ICON Public from $262.00 to $208.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird decreased their target price on shares of ICON Public from $221.00 to $203.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Seven 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $232.67.

ICON Public Price Performance

The company’s 50 day simple moving average is $172.72 and its two-hundred day simple moving average is $203.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.34. The stock has a market capitalization of $11.05 billion, a P/E ratio of 14.35, a PEG ratio of 1.86 and a beta of 1.24.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ICLR. Handelsbanken Fonder AB increased its position in ICON Public by 25.3% in the 1st quarter. Handelsbanken Fonder AB now owns 25,905 shares of the medical research company’s stock valued at $4,533,000 after acquiring an additional 5,229 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of ICON Public by 22.8% in the first quarter. Farther Finance Advisors LLC now owns 593 shares of the medical research company’s stock valued at $99,000 after purchasing an additional 110 shares in the last quarter. NBC Securities Inc. bought a new position in ICON Public in the 1st quarter worth approximately $59,000. GAMMA Investing LLC lifted its holdings in ICON Public by 15,701.6% during the 1st quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company’s stock worth $119,730,000 after buying an additional 67,988 shares in the last quarter. Finally, Foyston Gordon & Payne Inc boosted 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 buying an additional 11,089 shares during the last quarter. 95.61% of the stock is owned by institutional investors.

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.