ICON Public (NASDAQ:ICLR) Shares Gap Down – Should You Sell?

Shares of ICON Public Limited (NASDAQ:ICLR) gapped down prior to trading 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 trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial reduced their price objective on shares of ICON Public from $284.00 to $262.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. 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 note on Tuesday, November 19th. Barclays cut their target price on ICON Public from $275.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Royal Bank of Canada restated an “outperform” rating and set a $263.00 price objective on shares of ICON Public in a research report on Wednesday, January 15th. Finally, Citigroup lowered their target price on ICON Public from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $279.17.

ICON Public Stock Down 1.6 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.34 and a current ratio of 1.26. The firm’s 50 day moving average price is $197.41 and its two-hundred day moving average price is $233.01. The company has a market cap of $14.58 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21.

ICON Public (NASDAQ:ICLR) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported $3.42 EPS for the quarter, beating the consensus estimate of $3.41 by $0.01. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.04 billion. ICON Public had a return on equity of 11.81% and a net margin of 9.56%. Equities research analysts anticipate that ICON Public Limited will post 13.38 EPS for the current fiscal year.

Institutional Trading of ICON Public

Institutional investors and hedge funds have recently modified their holdings of the stock. Sierra Ocean LLC bought a new stake in ICON Public during the fourth quarter worth $29,000. Park Place Capital Corp grew its position in ICON Public by 281.4% in the 4th quarter. Park Place Capital Corp now owns 225 shares of the medical research company’s stock worth $47,000 after purchasing an additional 166 shares in the last quarter. Private Trust Co. NA increased its stake in ICON Public by 48.8% in the 4th quarter. Private Trust Co. NA now owns 250 shares of the medical research company’s stock valued at $52,000 after buying an additional 82 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of ICON Public by 64.0% during the 4th quarter. GAMMA Investing LLC now owns 433 shares of the medical research company’s stock worth $91,000 after buying an additional 169 shares in the last quarter. Finally, Horizon Investments LLC boosted its stake in shares of ICON Public by 534.0% in the 4th quarter. Horizon Investments LLC now owns 653 shares of the medical research company’s stock worth $137,000 after buying an additional 550 shares during the last quarter. 95.61% of the stock is owned by hedge funds and other 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.