iCAD (NASDAQ:ICAD) upgraded by Zacks Investment Research to hold
iCAD (NASDAQ:ICAD – Get an Assessment) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note released Wednesday, Zacks.com reports.
According to Zacks, “Icad, Inc. designs, engineers, develops and manufactures digital image scanners, densitometers, film scanners and related software for applications in the graphic arts, medical imaging and life sciences. The Company sells its products worldwide through various distributors, resellers, system integrators and OEMs. “
A number of other research companies have also recently commented on the ICAD. Guggenheim downgraded iCAD shares from a “buy” rating to a “neutral” rating in a Tuesday, January 18 research report. Oppenheimer lowered his price target on iCAD shares from $22.00 to $16.00 and set an “outperform” rating on the stock in a Wednesday, Jan. 5 research report. JMP Securities restated a “buy” rating and set a $13.00 price target on iCAD shares in a Wednesday, Jan. 5 research report. StockNews.com began covering iCAD shares in a report on Thursday, March 31. They issued a “holding” rating on the stock. Finally, Lake Street Capital lowered its target price on iCAD shares from $22.00 to $13.00 in a Tuesday, March 1 report. Three analysts gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $14.50.
iCAD stock opened at $3.54 on Wednesday. The company has a 50-day moving average price of $4.00 and a two-hundred-day moving average price of $6.16. The company has a market capitalization of $89.11 million, a price-earnings ratio of -7.70 and a beta of 1.28. iCAD has a 52 week minimum of $2.91 and a 52 week maximum of $19.00.
iCAD (NASDAQ:ICAD – Get Rating) released its quarterly results for the last time on Monday, February 28. The tech company reported ($0.17) EPS for the quarter, missing analyst consensus estimates of ($0.11) by ($0.06). iCAD had a negative return on equity of 21.36% and a negative net margin of 33.43%. The company posted revenue of $7.81 million for the quarter, versus a consensus estimate of $7.81 million. In the same quarter last year, the company posted ($0.06) earnings per share. Research analysts expect iCAD to post -0.53 earnings per share for the current year.
Separately, director Timothy Norris Irish bought 5,500 shares of the company in a transaction dated Thursday, March 3. The shares were acquired at an average price of $4.63 per share, for a total transaction of $25,465.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Andy Sassine sold 10,000 shares of the company in a transaction that took place on Monday, February 7. The shares were sold at an average price of $5.26, for a total transaction of $52,600.00. The disclosure of this sale can be found here. 12.50% of the shares are held by insiders.
A number of institutional investors and hedge funds have recently changed their positions in the stock. Granahan Investment Management Inc. MA increased its position in iCAD by 91.2% during the third quarter. Granahan Investment Management Inc. MA now owns 2,242,603 shares of the technology company valued at $24,108,000 after buying an additional 1,069,730 shares last quarter. BlackRock Inc. increased its position in iCAD by 0.7% during the fourth quarter. BlackRock Inc. now owns 1,375,231 shares of the technology company valued at $9,903,000 after buying 8,995 additional shares last quarter. Geode Capital Management LLC increased its position in iCAD by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 378,245 shares of the technology company valued at $2,723,000 after buying 3,811 additional shares last quarter. General American Investors Co. Inc. increased its position in iCAD by 40.8% during the first quarter. General American Investors Co. Inc. now owns 353,386 shares of the technology company valued at $1,576,000 after buying an additional 102,378 shares last quarter. Finally, Morgan Stanley increased its position in iCAD by 19.0% during the second quarter. Morgan Stanley now owns 342,039 shares of the technology company valued at $5,920,000 after buying an additional 54,554 shares last quarter. 48.53% of the shares are currently held by hedge funds and other institutional investors.
About iCAD (Get a rating)
iCAD, Inc provides image analysis, workflow solutions and radiation therapy for cancer treatment in the United States. It operates through two segments, Cancer Detection and Cancer Therapy. The Company offers the PowerLook Platform, which hosts AI algorithm solutions and manages communications between image acquisition systems and image storage and review systems; SecondLook, a machine learning-based cancer detection algorithm that analyzes 2D full-field digital mammography images to identify and mark suspicious masses and calcifications; and automated density assessment solutions, which provide automated, consistent, and standardized density assessment.
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