ICON Public (NASDAQ:ICLR) Hits New 12-Month Low - Here's Why

ICON Public Limited (NASDAQ:ICLR - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $127.51 and last traded at $130.75, with a volume of 1487031 shares. The stock had previously closed at $131.63.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ICLR shares. The Goldman Sachs Group cut their price objective on ICON Public from $180.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Truist Financial cut their price objective on ICON Public from $262.00 to $208.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Barclays cut their price objective on ICON Public from $165.00 to $155.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Citigroup cut their price objective on ICON Public from $290.00 to $215.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Robert W. Baird cut their price objective on ICON Public from $192.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $213.08.

ICON Public Trading Up 0.8%

The company has a current ratio of 1.26, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $149.61 and a two-hundred day simple moving average of $183.77. The firm has a market cap of $10.34 billion, a PE ratio of 13.43, a PEG ratio of 1.86 and a beta of 1.23.

ICON Public (NASDAQ:ICLR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The medical research company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.17 by $0.02. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. The business had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the business posted $3.47 EPS. The business's revenue was down 4.3% on a year-over-year basis. Equities analysts forecast that ICON Public Limited will post 13.38 EPS for the current year.

Institutional Investors Weigh In On ICON Public

Institutional investors and hedge funds have recently bought and sold shares of the business. Sierra Ocean LLC bought a new position in shares of ICON Public in the 4th quarter worth approximately $29,000. SVB Wealth LLC bought a new position in shares of ICON Public in the 1st quarter worth approximately $28,000. Private Trust Co. NA raised its position in shares of ICON Public by 48.8% in the 4th quarter. Private Trust Co. NA now owns 250 shares of the medical research company's stock worth $52,000 after acquiring an additional 82 shares in the last quarter. NBC Securities Inc. bought a new position in shares of ICON Public in the 1st quarter worth approximately $59,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of ICON Public in the 1st quarter worth approximately $69,000. 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.