Icon (NASDAQ:ICLR) Shares Gap Down – Time to Sell?

Icon Plc (NASDAQ:ICLR)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $202.92, but opened at $179.07. Icon shares last traded at $189.2030, with a volume of 870,918 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Cowen reiterated a “hold” rating on shares of Icon in a research report on Friday, October 24th. Barclays raised their price target on shares of Icon from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. TD Cowen cut their price objective on shares of Icon from $183.00 to $172.00 and set a “hold” rating for the company in a research report on Friday, October 24th. UBS Group set a $220.00 target price on shares of Icon in a research report on Friday, October 24th. Finally, Robert W. Baird set a $220.00 target price on shares of Icon in a research note on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $204.56.

Icon Stock Performance

The company has a market cap of $15.30 billion, a PE ratio of 25.49, a P/E/G ratio of 4.21 and a beta of 1.26. The stock’s 50 day simple moving average is $176.61 and its two-hundred day simple moving average is $172.40. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31.

Institutional Investors Weigh In On Icon

Several institutional investors and hedge funds have recently added to or reduced their stakes in ICLR. First National Bank Sioux Falls lifted its stake in shares of Icon by 5.7% in the 2nd quarter. First National Bank Sioux Falls now owns 1,580 shares of the medical research company’s stock valued at $230,000 after purchasing an additional 85 shares in the last quarter. Confluence Investment Management LLC raised its holdings in Icon by 5.9% in the second quarter. Confluence Investment Management LLC now owns 4,132 shares of the medical research company’s stock valued at $601,000 after buying an additional 232 shares during the period. Greenhaven Associates Inc. acquired a new position in Icon during the second quarter valued at approximately $2,565,000. Financiere des Professionnels Fonds d investissement inc. grew its stake in Icon by 31.0% during the second quarter. Financiere des Professionnels Fonds d investissement inc. now owns 50,212 shares of the medical research company’s stock worth $7,303,000 after buying an additional 11,894 shares during the period. Finally, Gateway Investment Advisers LLC grew its stake in Icon by 1.3% during the second quarter. Gateway Investment Advisers LLC now owns 41,156 shares of the medical research company’s stock worth $5,986,000 after buying an additional 516 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Icon Company Profile

Icon plc (NASDAQ: ICLR) is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon’s service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.