iCAD, Inc. (NASDAQ:ICAD) Receives Consensus Recommendation of “Hold” from Analysts

iCAD, Inc. (NASDAQ:ICAD – Get Rating) has been given an average rating of “Hold” by the seven brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.50.

A number of equities research analysts have recently issued reports on ICAD shares. Zacks Investment Research cut shares of iCAD from a “hold” rating to a “sell” rating in a research report on Tuesday. StockNews.com started coverage on shares of iCAD in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Lake Street Capital reduced their target price on shares of iCAD from $22.00 to $13.00 in a research report on Tuesday, March 1st.

In other news, Director Timothy Norris Irish acquired 5,500 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The stock was acquired at an average price of $4.63 per share, with a total value of $25,465.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ICAD. Granahan Investment Management Inc. MA raised its stake in iCAD by 91.2% during the third quarter. Granahan Investment Management Inc. MA now owns 2,242,603 shares of the technology company’s stock worth $24,108,000 after acquiring an additional 1,069,730 shares in the last quarter. Portolan Capital Management LLC acquired a new position in shares of iCAD in the first quarter valued at approximately $4,041,000. Altium Capital Management LP acquired a new position in shares of iCAD in the third quarter valued at approximately $3,440,000. General American Investors Co. Inc. acquired a new position in shares of iCAD in the fourth quarter valued at approximately $1,807,000. Finally, Walleye Capital LLC acquired a new position in shares of iCAD in the fourth quarter valued at approximately $951,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

ICAD stock traded up $0.01 during midday trading on Friday, reaching $3.64. 169,873 shares of the company were exchanged, compared to its average volume of 218,642. The business has a 50-day moving average price of $3.78 and a two-hundred day moving average price of $5.55. iCAD has a one year low of $2.91 and a one year high of $19.00. The firm has a market capitalization of $91.66 million, a price-to-earnings ratio of -6.87 and a beta of 1.28.

iCAD (NASDAQ:ICAD – Get Rating) last announced its earnings results on Wednesday, May 11th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). The business had revenue of $7.52 million during the quarter, compared to the consensus estimate of $7.50 million. iCAD had a negative net margin of 40.43% and a negative return on equity of 26.45%. On average, research analysts expect that iCAD will post -0.57 EPS for the current year.

About iCAD (Get Rating)

iCAD, Inc provides image analysis, workflow solutions, and radiation therapy for the treatment of cancer in the United States. It operates through two segments, Cancer Detection and Cancer Therapy. The company offers PowerLook platform, which hosts the AI algorithm solutions and manages the communications between imaging 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 provides automated, consistent, and standardized density assessment.

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