ICON Public (NASDAQ:ICLR) Shares Gap Down – Here’s Why

ICON Public Limited (NASDAQ:ICLR)’s stock price gapped down prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

ICLR has been the subject of a number of research analyst reports. Redburn Atlantic initiated coverage on ICON Public in a research note on Monday, October 14th. They issued a “neutral” rating and a $311.00 target price for the company. TD Cowen dropped their target price on ICON Public from $369.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Citigroup dropped their target price on ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Leerink Partnrs raised ICON Public to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, The Goldman Sachs Group decreased their target price on ICON Public from $370.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $287.00.

ICON Public Stock Down 0.4 %

The stock has a market capitalization of $16.39 billion, a P/E ratio of 22.14, a PEG ratio of 1.59 and a beta of 1.20. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $210.30 and a two-hundred day simple moving average of $269.51.

ICON Public (NASDAQ:ICLR) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.72 by ($0.37). The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.13 billion. ICON Public had a return on equity of 11.91% and a net margin of 9.00%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.10 earnings per share. On average, equities research analysts expect that ICON Public Limited will post 13.41 earnings per share for the current year.

Institutional Trading of ICON Public

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Foyston Gordon & Payne Inc purchased a new position in ICON Public in the third quarter valued at approximately $11,672,000. Icon Wealth Advisors LLC increased its stake in ICON Public by 861.1% in the third quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock valued at $3,797,000 after acquiring an additional 11,840 shares during the last quarter. Whittier Trust Co. grew its stake in shares of ICON Public by 12.3% during the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after buying an additional 441 shares during the last quarter. Sara Bay Financial purchased a new stake in shares of ICON Public during the third quarter worth about $1,143,000. Finally, Steph & Co. boosted its holdings in shares of ICON Public by 3.7% during the fourth quarter. Steph & Co. now owns 1,560 shares of the medical research company’s stock worth $327,000 after purchasing an additional 55 shares during the period. 95.61% of the stock is owned by institutional investors.

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.