With a price-to-earnings (or “P/E”) ratio of 22.1x ICL Group Ltd (NYSE:ICL) may be sending bearish signals at the moment, given that almost half of all companies in the United States have P/E ratios under 17x and even P/E’s lower than 10x are not unusual. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the elevated P/E.

AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part – they are all under $10bn in marketcap – there is still time to get in early.

For example, consider that ICL Group’s financial performance has been poor lately as its earnings have been in decline. It might be that many expect the company…