ICON Public (NASDAQ:ICLR) Shares Gap Down to $331.77

Shares of ICON Public Limited (NASDAQ:ICLR) gapped down before the market opened on Thursday . The stock had previously closed at $331.77, but opened at $310.00. ICON Public shares last traded at $317.67, with a volume of 176,078 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ICLR. Evercore ISI cut their target price on ICON Public from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. TD Cowen upped their price target on ICON Public from $349.00 to $373.00 and gave the stock a “buy” rating in a report on Friday, May 31st. William Blair restated an “outperform” rating on shares of ICON Public in a report on Friday, May 31st. Robert W. Baird upped their price target on ICON Public from $367.00 to $376.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Finally, The Goldman Sachs Group started coverage on ICON Public in a report on Thursday, June 6th. They issued a “buy” rating and a $370.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $351.33.

ICON Public Trading Down 4.6 %

The business has a fifty day simple moving average of $322.05 and a 200 day simple moving average of $308.22. The stock has a market cap of $26.11 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 1.48 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.21 and a current ratio of 1.21.

ICON Public (NASDAQ:ICLR) last announced its earnings results on Wednesday, July 24th. The medical research company reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.14 billion. ICON Public had a return on equity of 11.70% and a net margin of 8.30%. ICON Public’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.96 EPS. As a group, equities analysts anticipate that ICON Public Limited will post 14.54 EPS for the current year.

Institutional Investors Weigh In On ICON Public

Several hedge funds have recently made changes to their positions in ICLR. Kornitzer Capital Management Inc. KS boosted its holdings in shares of ICON Public by 50.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 74,820 shares of the medical research company’s stock worth $21,179,000 after purchasing an additional 25,160 shares during the last quarter. State of Tennessee Treasury Department boosted its holdings in shares of ICON Public by 4.9% during the fourth quarter. State of Tennessee Treasury Department now owns 155,797 shares of the medical research company’s stock worth $44,101,000 after purchasing an additional 7,270 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of ICON Public by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 695,932 shares of the medical research company’s stock worth $196,998,000 after purchasing an additional 6,331 shares during the last quarter. Cullen Investment Group LTD. acquired a new stake in shares of ICON Public during the fourth quarter worth $1,620,000. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of ICON Public during the first quarter worth $1,021,000. Institutional investors and hedge funds 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.