ICON Public (NASDAQ:ICLR) Hits New 52-Week Low - Here's Why

Shares of ICON Public Limited (NASDAQ:ICLR - Get Free Report) reached a new 52-week low during trading on Friday . The stock traded as low as $219.81 and last traded at $220.41, with a volume of 1098276 shares traded. The stock had previously closed at $222.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ICLR shares. Leerink Partners cut their price target on shares of ICON Public from $376.00 to $270.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Leerink Partnrs upgraded shares of ICON Public to a "strong-buy" rating in a report on Wednesday, September 18th. TD Cowen cut their price target on shares of ICON Public from $369.00 to $285.00 and set a "buy" rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. cut their price target on shares of ICON Public from $375.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Finally, Redburn Atlantic initiated coverage on shares of ICON Public in a report on Monday, October 14th. They set a "neutral" rating and a $311.00 target price for the company. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ICON Public presently has a consensus rating of "Moderate Buy" and a consensus target price of $304.27.

ICON Public Trading Down 0.2 %

The company has a market cap of $18.29 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.68 and a beta of 1.22. 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 firm's fifty day moving average price is $292.12 and its 200-day moving average price is $308.52.

ICON Public (NASDAQ:ICLR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.72 by ($0.37). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the firm posted $3.10 EPS. The business's revenue was down 1.2% compared to the same quarter last year. On average, equities analysts expect that ICON Public Limited will post 13.43 EPS for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Several institutional investors have recently bought and sold shares of the stock. Arkadios Wealth Advisors lifted its holdings in ICON Public by 5.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,293 shares of the medical research company's stock valued at $371,000 after acquiring an additional 62 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of ICON Public by 23.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company's stock valued at $147,000 after purchasing an additional 96 shares during the period. Whittier Trust Co. increased its holdings in ICON Public by 12.3% in the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company's stock worth $1,155,000 after buying an additional 441 shares during the last quarter. Sara Bay Financial bought a new stake in ICON Public during the third quarter worth approximately $1,143,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of ICON Public by 39.2% in the second quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company's stock valued at $129,000 after acquiring an additional 111 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.