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

ICON Public Limited (NASDAQ:ICLR) shares gapped down before the market opened on Thursday . The stock had previously closed at $183.39, but opened at $178.00. ICON Public shares last traded at $178.08, with a volume of 144,807 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on ICLR. JPMorgan Chase & Co. lowered their price objective on shares of ICON Public from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Citigroup dropped their price objective on ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Leerink Partners reissued an “outperform” rating and issued a $255.00 target price (down from $270.00) on shares of ICON Public in a research report on Tuesday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $263.00 price target on shares of ICON Public in a research report on Wednesday, January 15th. Finally, Barclays lowered their price objective on ICON Public from $275.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Four equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.17.

ICON Public Trading Down 1.6 %

The company has a current ratio of 1.26, a quick ratio of 1.34 and a debt-to-equity ratio of 0.36. The stock has a market cap of $14.58 billion, a PE ratio of 18.92, a PEG ratio of 1.86 and a beta of 1.21. The firm has a fifty day simple moving average of $197.41 and a two-hundred day simple moving average of $233.01.

ICON Public (NASDAQ:ICLR) last announced its earnings results on Wednesday, February 19th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.01. ICON Public had a net margin of 9.56% and a return on equity of 11.81%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.04 billion. As a group, equities analysts expect that ICON Public Limited will post 13.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC boosted its holdings in shares of ICON Public by 861.1% in the 3rd 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 in the last quarter. Foyston Gordon & Payne Inc purchased a new stake in ICON Public in the third quarter worth approximately $11,672,000. Tributary Capital Management LLC grew its position in ICON Public by 116.1% during the fourth quarter. Tributary Capital Management LLC now owns 3,950 shares of the medical research company’s stock valued at $828,000 after acquiring an additional 2,122 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of ICON Public by 64.0% during the fourth quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after acquiring an additional 169 shares in the last quarter. Finally, Entropy Technologies LP lifted its holdings in shares of ICON Public by 472.2% in the 4th quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock worth $1,295,000 after acquiring an additional 5,095 shares during the last quarter. Institutional investors own 95.61% of the company’s stock.

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.