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

ICON Public Limited (NASDAQ:ICLR - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as $133.28 and last traded at $136.79, with a volume of 3967892 shares changing hands. The stock had previously closed at $137.23.

Wall Street Analyst Weigh In

ICLR has been the subject of several research reports. Robert W. Baird cut their price target on ICON Public from $221.00 to $203.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Truist Financial reduced their price target on shares of ICON Public from $262.00 to $208.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Mizuho dropped their price objective on shares of ICON Public from $238.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Citigroup lowered their target price on ICON Public from $290.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $263.00 price target on shares of ICON Public in a report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $232.67.

ICON Public Stock Up 0.0 %

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 stock has a market cap of $11.71 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. The firm's 50-day moving average is $170.17 and its 200 day moving average is $199.94.

ICON Public (NASDAQ:ICLR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.41 by $0.01. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.04 billion. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. Sell-side analysts anticipate that ICON Public Limited will post 13.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICON Public

Several institutional investors have recently bought and sold shares of the business. Sierra Ocean LLC acquired a new position in shares of ICON Public during the 4th quarter valued at $29,000. Park Place Capital Corp raised its position in ICON Public by 281.4% in the fourth quarter. Park Place Capital Corp now owns 225 shares of the medical research company's stock valued at $47,000 after purchasing an additional 166 shares during the period. Private Trust Co. NA lifted its stake in shares of ICON Public by 48.8% during the fourth quarter. Private Trust Co. NA now owns 250 shares of the medical research company's stock worth $52,000 after purchasing an additional 82 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of ICON Public in the first quarter worth about $59,000. Finally, GAMMA Investing LLC grew its stake in shares of ICON Public by 64.0% in the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company's stock valued at $91,000 after buying an additional 169 shares in the last quarter. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

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.