ICON Public (NASDAQ:ICLR) Hits New 1-Year Low – Here’s Why

Shares of ICON Public Limited (NASDAQ:ICLR) hit a new 52-week low on Wednesday . The stock traded as low as $208.34 and last traded at $208.69, with a volume of 175296 shares changing hands. The stock had previously closed at $212.27.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ICLR shares. TD Cowen dropped their target price on ICON Public from $369.00 to $285.00 and set a “buy” rating for the company in a report on Friday, October 25th. Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Robert W. Baird cut ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price objective for the company. in a report on Thursday, October 24th. Leerink Partners dropped their price objective on ICON Public from $376.00 to $270.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Baird R W cut ICON Public from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $304.27.

ICON Public Trading Down 1.9 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $16.50 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. The stock has a 50-day moving average of $269.29 and a two-hundred day moving average of $302.09.

ICON Public (NASDAQ:ICLR) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the business earned $3.10 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities research analysts predict that ICON Public Limited will post 13.43 earnings per share for the current year.

Institutional Trading of ICON Public

A number of institutional investors and hedge funds have recently modified their holdings of ICLR. SkyView Investment Advisors LLC bought a new stake in shares of ICON Public in the 1st quarter worth $1,021,000. EverSource Wealth Advisors LLC increased its holdings in shares of ICON Public by 17.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 283 shares of the medical research company’s stock worth $95,000 after purchasing an additional 42 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of ICON Public by 50.0% in the 2nd quarter. GAMMA Investing LLC now owns 261 shares of the medical research company’s stock worth $82,000 after buying an additional 87 shares during the last quarter. ORG Partners LLC purchased a new position in shares of ICON Public in the 2nd quarter worth $59,000. Finally, Liontrust Investment Partners LLP boosted its stake in shares of ICON Public by 19.5% in the 2nd quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock worth $37,531,000 after buying an additional 19,546 shares during the last quarter. Institutional investors own 95.61% of the company’s stock.

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.