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

ICON Public Limited (NASDAQ:ICLR)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $125.10 and last traded at $131.08, with a volume of 883276 shares. The stock had previously closed at $126.99.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays reduced their price objective on ICON Public from $165.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd. TD Cowen lowered ICON Public from a “buy” rating to a “hold” rating and decreased their price target for the company from $254.00 to $157.00 in a report on Monday, April 14th. Robert W. Baird dropped their price objective on shares of ICON Public from $192.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Mizuho lowered their target price on shares of ICON Public from $200.00 to $173.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Finally, Truist Financial decreased 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. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $213.08.

ICON Public Trading Up 4.2%

The stock has a market capitalization of $10.69 billion, a PE ratio of 13.75, a P/E/G ratio of 1.86 and a beta of 1.23. The company’s 50 day moving average price is $148.48 and its two-hundred day moving average price is $182.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.34.

ICON Public (NASDAQ:ICLR) last announced its quarterly earnings data on Wednesday, April 30th. The medical research company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.17 by $0.02. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.03 billion. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.47 earnings per share. As a group, analysts expect that ICON Public Limited will post 13.38 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position in ICON Public by 15,701.6% in the first quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company’s stock valued at $119,730,000 after purchasing an additional 67,988 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in shares of ICON Public by 40.6% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company’s stock worth $20,363,000 after buying an additional 28,050 shares during the period. Natixis Advisors LLC lifted its stake in ICON Public by 6.7% in the fourth quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company’s stock worth $37,279,000 after acquiring an additional 11,177 shares during the last quarter. Foyston Gordon & Payne Inc increased its position in shares of 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 purchasing an additional 11,089 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its holdings in shares of ICON Public by 573.7% in the 1st quarter. Arkadios Wealth Advisors now owns 7,828 shares of the medical research company’s stock valued at $1,370,000 after purchasing an additional 6,666 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

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.