ICON Public Limited Company [NASDAQ: ICLR] plunged by -$3.35 during the normal trading session on Tuesday and reaching a high of $215.54 during the day while it closed the day at $211.73. The company report on July 1, 2021 that ICON acquisition creates world-leading healthcare intelligence and clinical research organisation.
ICON plc, (NASDAQ: ICLR) (“ICON”) announced the completion of its acquisition of PRA Health Sciences. The combined company will retain the name ICON and will bring together 38,000 employees across 47 countries, creating the world’s most advanced healthcare intelligence and clinical research organisation.
The combined company will leverage its enhanced operations to transform clinical trials and accelerate biopharma customers’ commercial success through the development of much needed medicines and medical devices. The new ICON will have a renewed focus on leveraging data, applying technology and accessing diverse patient populations to speed up drug development.
ICON Public Limited Company stock has also loss -1.65% of its value over the past 7 days. However, ICLR stock has inclined by 4.05% in the 3 months of the year. Over the past six months meanwhile, it has gained 10.26% and gained 8.59% year-on date.
The market cap for ICLR stock reached $11.23 billion, with 52.81 million shares outstanding and 52.23 million shares in the current float. Compared to the average trading volume of 786.85K shares, ICLR reached a trading volume of 2240317 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about ICON Public Limited Company [ICLR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ICLR shares is $248.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ICLR stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for ICON Public Limited Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 13, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $200 to $235. The new note on the price target was released on April 01, 2021, representing the official price target for ICON Public Limited Company stock. Previously, the target price had yet another raise to $215, while Robert W. Baird analysts kept a Outperform rating on ICLR stock.
The Average True Range (ATR) for ICON Public Limited Company is set at 6.13, with the Price to Sales ratio for ICLR stock in the period of the last 12 months amounting to 3.82. The Price to Book ratio for the last quarter was 5.78.
ICLR stock trade performance evaluation
ICON Public Limited Company [ICLR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.65. With this latest performance, ICLR shares dropped by -3.97% in over the last four-week period, additionally plugging by 10.26% over the last 6 months – not to mention a rise of 24.94% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ICLR stock in for the last two-week period is set at 44.92, with the RSI for the last a single of trading hit 44.51, and the three-weeks RSI is set at 46.31 for ICON Public Limited Company [ICLR]. The present Moving Average for the last 50 days of trading for this stock 219.65, while it was recorded at 212.68 for the last single week of trading, and 202.16 for the last 200 days.
ICON Public Limited Company [ICLR]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and ICON Public Limited Company [ICLR] shares currently have an operating margin of +14.86 and a Gross Margin at +26.86. ICON Public Limited Company’s Net Margin is presently recorded at +11.88.
Return on Total Capital for ICLR is now 18.91, given the latest momentum, and Return on Invested Capital for the company is 16.81. Return on Equity for this stock inclined to 19.16, with Return on Assets sitting at 10.48. When it comes to the capital structure of this company, ICON Public Limited Company [ICLR] has a Total Debt to Total Equity ratio set at 23.44. Additionally, ICLR Total Debt to Total Capital is recorded at 18.99, with Total Debt to Total Assets ending up at 12.62. Long-Term Debt to Equity for the company is recorded at 22.12, with the Long-Term Debt to Total Capital now at 17.92.
Reflecting on the efficiency of the workforce at the company, ICON Public Limited Company [ICLR] managed to generate an average of $21,127 per employee. Receivables Turnover for the company is 2.52 with a Total Asset Turnover recorded at a value of 0.88.
Earnings per share (EPS) analysis for ICON Public Limited Company [ICLR] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ICLR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ICON Public Limited Company go to 12.63%.
ICON Public Limited Company [ICLR]: Insider Ownership positions
There are presently around $16,169 million, in the hands of institutional investors. The top three institutional holders of ICLR stocks are: MASSACHUSETTS FINANCIAL SERVICES CO /MA/ with ownership of 7,016,232, which is approximately 46.436% of the company’s market cap and around 4.00% of the total institutional ownership; WCM INVESTMENT MANAGEMENT, LLC, holding 4,049,678 shares of the stock with an approximate value of $857.44 million in ICLR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $829.54 million in ICLR stock with ownership of nearly -36.703% of the company’s market capitalization.
Positions in ICON Public Limited Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 310 institutional holders increased their position in ICON Public Limited Company [NASDAQ:ICLR] by around 13,310,044 shares. Additionally, 275 investors decreased positions by around 10,283,194 shares, while 77 investors held positions by with 52,772,167 shares. The mentioned changes placed institutional holdings at 76,365,405 shares, according to the latest SEC report filing. ICLR stock had 109 new institutional investments in for a total of 4,837,372 shares, while 73 institutional investors sold positions of 1,051,108 shares during the same period.