ICON Public (NASDAQ:ICLR) Hits New 52-Week Low on Analyst Downgrade

ICON Public Limited (NASDAQ:ICLR) reached a new 52-week low on Thursday after Truist Financial lowered their price target on the stock from $284.00 to $262.00. Truist Financial currently has a buy rating on the stock. ICON Public traded as low as $182.74 and last traded at $181.56, with a volume of 647768 shares traded. The stock had previously closed at $186.53.

A number of other research firms also recently weighed in on ICLR. Barclays cut their price target on ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Baird R W lowered shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group cut their price target on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $255.00 price objective (down from $270.00) on shares of ICON Public in a report on Tuesday, November 19th. 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. Based on data from MarketBeat, ICON Public presently has an average rating of “Moderate Buy” and an average target price of $283.92.

Hedge Funds Weigh In On ICON Public

Large investors have recently made changes to their positions in the business. Sierra Ocean LLC acquired a new stake in ICON Public in the 4th quarter valued at approximately $29,000. Park Place Capital Corp grew its stake in shares of ICON Public by 281.4% in the fourth quarter. Park Place Capital Corp now owns 225 shares of the medical research company’s stock worth $47,000 after acquiring an additional 166 shares during the last quarter. Private Trust Co. NA increased its position in ICON Public by 48.8% during the fourth quarter. Private Trust Co. NA now owns 250 shares of the medical research company’s stock worth $52,000 after acquiring an additional 82 shares during the period. GAMMA Investing LLC increased its position in ICON Public by 64.0% during the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after acquiring an additional 169 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in ICON Public by 23.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock valued at $147,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

ICON Public Trading Down 2.7 %

The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $14.98 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.78 and a beta of 1.19. The business’s fifty day simple moving average is $206.00 and its two-hundred day simple moving average is $251.32.

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.