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

ICON Public Limited (NASDAQ:ICLR) shares hit a new 52-week low during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $284.00 to $262.00. Truist Financial currently has a buy rating on the stock. ICON Public traded as low as $182.74 and last traded at $181.56, with a volume of 647768 shares traded. The stock had previously closed at $186.53.

Several other equities analysts have also commented on ICLR. The Goldman Sachs Group lowered their price target on shares of ICON Public from $370.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Barclays cut their price target on ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Robert W. Baird decreased their price target on ICON Public from $249.00 to $225.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. TD Cowen cut their price objective on shares of ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Baird R W downgraded shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ICON Public has a consensus rating of “Moderate Buy” and a consensus price target of $283.92.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sierra Ocean LLC bought a new stake in shares of ICON Public during the 4th quarter worth $29,000. Park Place Capital Corp boosted its position in shares of ICON Public by 281.4% in the 4th 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 increased its stake in 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 purchasing an additional 82 shares in the last quarter. GAMMA Investing LLC raised its holdings in ICON Public by 64.0% during the 4th quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after buying an additional 169 shares during the period. Finally, Horizon Investments LLC lifted its stake in ICON Public by 534.0% during the fourth quarter. Horizon Investments LLC now owns 653 shares of the medical research company’s stock valued at $137,000 after buying an additional 550 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.

ICON Public Stock Performance

The firm’s fifty day simple moving average is $206.00 and its 200 day simple moving average is $251.32. The company has a market capitalization of $14.98 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.78 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34.

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.