ICON Public (NASDAQ:ICLR) Hits New 12-Month Low After Analyst Downgrade

ICON Public Limited (NASDAQ:ICLR - Get Free Report) hit a new 52-week low on Monday after Truist Financial lowered their price target on the stock from $262.00 to $208.00. Truist Financial currently has a buy rating on the stock. ICON Public traded as low as $150.91 and last traded at $153.62, with a volume of 819 shares traded. The stock had previously closed at $153.72.

Several other research firms have also weighed in on ICLR. Citigroup decreased their price target on ICON Public from $290.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group downgraded shares of ICON Public from a "buy" rating to a "neutral" rating and reduced their target price for the company from $250.00 to $200.00 in a research note on Friday, March 21st. William Blair reaffirmed an "outperform" rating on shares of ICON Public in a research note on Tuesday, January 14th. Royal Bank of Canada reissued an "outperform" rating and issued a $263.00 price objective on shares of ICON Public in a research report on Wednesday, January 15th. Finally, Robert W. Baird dropped their target price on ICON Public from $221.00 to $203.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $243.33.

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Institutional Trading of ICON Public

Hedge funds have recently added to or reduced their stakes in the business. Natixis Advisors LLC increased its holdings in shares of ICON Public by 6.7% in the 4th quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company's stock valued at $37,279,000 after acquiring an additional 11,177 shares during the period. State of Tennessee Department of Treasury grew its position in shares of ICON Public by 1.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 158,947 shares of the medical research company's stock worth $33,333,000 after buying an additional 1,600 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of ICON Public by 40.6% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company's stock worth $20,363,000 after acquiring an additional 28,050 shares in the last quarter. GAMMA Investing LLC lifted its position in ICON Public by 15,701.6% during the first quarter. GAMMA Investing LLC now owns 68,421 shares of the medical research company's stock valued at $119,730,000 after acquiring an additional 67,988 shares during the last quarter. Finally, Motley Fool Wealth Management LLC boosted its stake 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 valued at $13,342,000 after acquiring an additional 1,466 shares in the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

ICON Public Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.34. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.86 and a beta of 1.24. The firm has a fifty day simple moving average of $179.62 and a two-hundred day simple moving average of $210.84.

ICON Public (NASDAQ:ICLR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.41 by $0.01. The business 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, analysts expect that ICON Public Limited will post 13.38 EPS for the current year.

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.