Icon Plc (NASDAQ:ICLR) Short Interest Update
by Scott Moore · The Cerbat GemIcon Plc (NASDAQ:ICLR – Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 2,896,513 shares, an increase of 42.8% from the March 15th total of 2,029,053 shares. Approximately 6.4% of the company’s stock are sold short. Based on an average trading volume of 938,420 shares, the days-to-cover ratio is currently 3.1 days.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA lifted its holdings in shares of Icon by 200.0% during the third quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 94 shares during the period. Toth Financial Advisory Corp bought a new position in shares of Icon during the fourth quarter valued at $27,000. EFG International AG bought a new position in shares of Icon during the fourth quarter valued at $27,000. Ameriflex Group Inc. bought a new position in shares of Icon during the third quarter valued at $33,000. Finally, Abound Financial LLC bought a new position in shares of Icon during the fourth quarter valued at $54,000. 95.61% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Icon from $200.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 11th. Bank of America reaffirmed an “underperform” rating and set a $75.00 price objective on shares of Icon in a research report on Thursday, February 12th. Truist Financial reaffirmed a “hold” rating and set a $222.00 price objective (down from $231.00) on shares of Icon in a research report on Thursday, January 8th. Rothschild & Co Redburn set a $100.00 price objective on shares of Icon and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Finally, Mizuho set a $216.00 price objective on shares of Icon in a research report on Friday, January 9th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $148.80.
Get Our Latest Research Report on ICLR
Icon Price Performance
Shares of NASDAQ ICLR traded up $2.69 during midday trading on Tuesday, reaching $113.06. 899,387 shares of the company traded hands, compared to its average volume of 1,718,111. The firm has a market cap of $9.13 billion, a PE ratio of 15.30, a PEG ratio of 2.70 and a beta of 1.28. The stock’s 50-day simple moving average is $109.96 and its 200-day simple moving average is $155.23. Icon has a 12 month low of $66.57 and a 12 month high of $211.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06.
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.