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

ICON Public Limited (NASDAQ:ICLR)’s stock price reached a new 52-week low during trading on Wednesday . The company 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 Analysts Forecast Growth

A number of equities research analysts have commented on ICLR shares. Robert W. Baird cut ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price target on the stock. in a report on Thursday, October 24th. The Goldman Sachs Group reduced their price objective on ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Evercore ISI dropped their target price on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Leerink Partnrs upgraded ICON Public to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lowered their price target on ICON Public from $375.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ICON Public has an average rating of “Moderate Buy” and a consensus target price of $304.27.

ICON Public Stock Performance

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

ICON Public (NASDAQ:ICLR) last posted its earnings results 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). The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.10 EPS. Research analysts anticipate that ICON Public Limited will post 13.43 earnings per share for the current year.

Institutional Trading of ICON Public

A number of hedge funds have recently bought and sold shares of ICLR. Liontrust Investment Partners LLP increased its position in shares of ICON Public by 19.5% during the second quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock worth $37,531,000 after purchasing an additional 19,546 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of ICON Public by 15.9% during the second quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock worth $30,016,000 after purchasing an additional 13,163 shares in the last quarter. Icon Wealth Advisors LLC increased its position in shares of ICON Public by 861.1% during the third quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock worth $3,797,000 after purchasing an additional 11,840 shares in the last quarter. Whittier Trust Co. increased its position in shares of ICON Public by 12.3% during the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock worth $1,155,000 after purchasing an additional 441 shares in the last quarter. Finally, Sara Bay Financial acquired a new position in shares of ICON Public during the third quarter worth $1,143,000. Hedge funds and other institutional investors 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.