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

ICON Public Limited (NASDAQ:ICLR) 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 changing hands.

Wall Street Analysts Forecast Growth

ICLR has been the subject of several analyst reports. The Goldman Sachs Group reduced 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 decreased their price target on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Baird R W cut shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Truist Financial restated a “buy” rating and issued a $284.00 target price (down from $295.00) on shares of ICON Public in a report on Wednesday, December 18th. Finally, Leerink Partners reissued an “outperform” rating and issued a $255.00 price objective (down from $270.00) on shares of ICON Public in a research report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.00.

ICON Public Trading Down 0.4 %

The company’s 50 day moving average price is $210.30 and its two-hundred day moving average price is $269.51. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $16.39 billion, a PE ratio of 22.14, a P/E/G ratio of 1.59 and a beta of 1.20.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Steph & Co. grew its holdings in shares of ICON Public by 3.7% in the fourth quarter. Steph & Co. now owns 1,560 shares of the medical research company’s stock valued at $327,000 after purchasing an additional 55 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of ICON Public by 64.0% in the fourth 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. Foyston Gordon & Payne Inc purchased a new position in ICON Public in the third quarter worth approximately $11,672,000. Icon Wealth Advisors LLC lifted 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 worth $3,797,000 after acquiring an additional 11,840 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in ICON Public by 33.9% in the third quarter. First Horizon Advisors Inc. now owns 597 shares of the medical research company’s stock worth $172,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds 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.