ICON Public (NASDAQ:ICLR) Hits New 52-Week Low – Here’s What Happened

ICON Public Limited (NASDAQ:ICLR)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $175.94 and last traded at $176.62, with a volume of 190504 shares trading hands. The stock had previously closed at $182.72.

Wall Street Analysts Forecast Growth

ICLR has been the topic of several recent analyst reports. Barclays lowered their target price on shares of ICON Public from $275.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. JPMorgan Chase & Co. lowered their price objective 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. Citigroup reduced their target price on ICON Public from $300.00 to $290.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $263.00 price target on shares of ICON Public in a research report on Wednesday, January 15th. Finally, William Blair reissued an “outperform” rating on shares of ICON Public in a report on Tuesday, January 14th. Four 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 stock. Based on data from MarketBeat.com, ICON Public currently has an average rating of “Moderate Buy” and an average price target of $279.17.

ICON Public Price Performance

The company has a quick ratio of 1.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $197.41 and its 200-day simple moving average is $233.01. The stock has a market cap of $14.45 billion, a PE ratio of 18.78, a PEG ratio of 1.86 and a beta of 1.21.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.04 billion. On average, research analysts expect that ICON Public Limited will post 13.38 EPS for the current fiscal year.

Institutional Trading of ICON Public

A number of hedge funds and other institutional investors have recently modified their holdings of ICLR. Foyston Gordon & Payne Inc lifted its holdings in shares of ICON Public by 27.3% during the fourth 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. Captrust Financial Advisors increased its position in ICON Public by 2.0% during the 4th quarter. Captrust Financial Advisors now owns 35,301 shares of the medical research company’s stock valued at $7,403,000 after buying an additional 701 shares in the last quarter. State of Tennessee Department of Treasury raised its stake in ICON Public by 1.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 158,947 shares of the medical research company’s stock valued at $33,333,000 after buying an additional 1,600 shares during the last quarter. Motley Fool Wealth Management LLC boosted its holdings in ICON Public by 2.3% in the fourth quarter. Motley Fool Wealth Management LLC now owns 64,038 shares of the medical research company’s stock worth $13,342,000 after acquiring an additional 1,466 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of ICON Public by 128.2% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,166 shares of the medical research company’s stock worth $245,000 after acquiring an additional 655 shares during the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

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.