ICON Public (NASDAQ:ICLR) Shares Gap Down – What’s Next?

ICON Public Limited (NASDAQ:ICLR)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $217.99, but opened at $199.39. ICON Public shares last traded at $204.75, with a volume of 184,788 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ICLR shares. Evercore ISI lowered their price target on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Truist Financial reissued a “buy” rating and set a $284.00 price target (down previously from $295.00) on shares of ICON Public in a report on Wednesday, December 18th. StockNews.com cut ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Royal Bank of Canada initiated coverage on ICON Public in a report on Tuesday, January 7th. They set an “outperform” rating and a $263.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on ICON Public from $375.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $287.00.

ICON Public Price Performance

The business has a 50-day simple moving average of $211.31 and a 200 day simple moving average of $270.81. The stock has a market cap of $16.75 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a net margin of 9.00% and a return on equity of 11.91%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm posted $3.10 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts forecast that ICON Public Limited will post 13.42 earnings per share for the current year.

Institutional Investors Weigh In On ICON Public

Several institutional investors and hedge funds have recently made changes to their positions in ICLR. Ashton Thomas Private Wealth LLC bought a new stake in shares of ICON Public during the 2nd quarter valued at about $54,000. GAMMA Investing LLC boosted its position in shares of ICON Public by 64.0% during the 4th quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock valued at $91,000 after purchasing an additional 169 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in ICON Public by 39.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 394 shares of the medical research company’s stock worth $129,000 after buying an additional 111 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in ICON Public by 23.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 511 shares of the medical research company’s stock worth $147,000 after buying an additional 96 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in ICON Public by 33.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company’s stock worth $172,000 after buying an additional 151 shares during the period. Institutional investors 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.