ICON Public (NASDAQ:ICLR) Hits New 12-Month Low – Here’s What Happened

ICON Public Limited (NASDAQ:ICLR) shares reached a new 52-week low during trading on Monday . The company traded as low as $168.00 and last traded at $170.77, with a volume of 543736 shares traded. The stock had previously closed at $179.07.

Analyst Upgrades and Downgrades

ICLR has been the subject of several research analyst reports. William Blair restated an “outperform” rating on shares of ICON Public in a report on Tuesday, January 14th. Barclays decreased their price target 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. JPMorgan Chase & Co. cut their target price on ICON Public from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird dropped their price target on ICON Public from $221.00 to $203.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group lowered shares of ICON Public from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $250.00 to $200.00 in a research note on Friday, March 21st. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $272.50.

ICON Public Trading Down 2.8 %

The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21. The company has a fifty day moving average price of $190.43 and a 200-day moving average price of $221.63. The company has a current ratio of 1.26, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.41 by $0.01. The company 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%. On average, equities research analysts predict that ICON Public Limited will post 13.38 EPS for the current year.

Hedge Funds Weigh In On ICON Public

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICLR. Foyston Gordon & Payne Inc acquired a new position in ICON Public in the 3rd quarter valued at $11,672,000. GAMMA Investing LLC increased its stake in shares of ICON Public by 64.0% in the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after purchasing an additional 169 shares during the period. Steph & Co. lifted its position in shares of ICON Public by 3.7% during the 4th quarter. Steph & Co. now owns 1,560 shares of the medical research company’s stock worth $327,000 after purchasing an additional 55 shares during the last quarter. Park Place Capital Corp grew its holdings in ICON Public by 281.4% in the 4th quarter. Park Place Capital Corp now owns 225 shares of the medical research company’s stock valued at $47,000 after buying an additional 166 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in ICON Public by 76.0% in the 4th quarter. Avior Wealth Management LLC now owns 894 shares of the medical research company’s stock worth $187,000 after buying an additional 386 shares during the period. Institutional investors and hedge funds 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.