ICON Public (NASDAQ:ICLR) Reaches New 52-Week Low After Analyst Downgrade

ICON Public Limited (NASDAQ:ICLR) shares hit a new 52-week low 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 changing hands. The stock had previously closed at $186.53.

A number of other analysts also recently issued reports on ICLR. Baird R W downgraded ICON Public from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Citigroup lowered their price target on ICON Public from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday, January 6th. 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 report on Friday, October 25th. Barclays lowered their target price on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Robert W. Baird dropped their target price on shares of ICON Public from $249.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ICON Public currently has a consensus rating of “Moderate Buy” and an average target price of $283.92.

Hedge Funds Weigh In On ICON Public

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Foyston Gordon & Payne Inc acquired a new stake in ICON Public during the 3rd quarter worth approximately $11,672,000. Kornitzer Capital Management Inc. KS raised its stake in shares of ICON Public by 40.6% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company’s stock worth $20,363,000 after purchasing an additional 28,050 shares during the last quarter. Icon Wealth Advisors LLC lifted its holdings in shares of ICON Public by 861.1% during the third quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock worth $3,797,000 after purchasing an additional 11,840 shares during the period. Natixis Advisors LLC grew its position in ICON Public by 6.7% in the 4th quarter. Natixis Advisors LLC now owns 177,761 shares of the medical research company’s stock valued at $37,279,000 after buying an additional 11,177 shares during the last quarter. Finally, Entropy Technologies LP grew its position in ICON Public by 472.2% in the 4th quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock valued at $1,295,000 after buying an additional 5,095 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

ICON Public Stock Down 2.1 %

The company has a market capitalization of $15.07 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.78 and a beta of 1.19. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm’s 50 day simple moving average is $205.46 and its 200-day simple moving average is $250.84.

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.