iCAD, Inc. (NASDAQ:ICAD) Holdings Lowered by Millennium Management LLC

Millennium Management LLC lowered its stake in iCAD, Inc. (NASDAQ:ICAD) by 66.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,505 shares of the technology company’s stock after selling 36,766 shares during the quarter. Millennium Management LLC owned approximately 0.07% of iCAD worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Granahan Investment Management LLC acquired a new position in shares of iCAD in the fourth quarter worth about $96,000. Integrated Wealth Concepts LLC purchased a new stake in shares of iCAD in the 4th quarter valued at approximately $92,000. Wells Fargo & Company MN lifted its position in shares of iCAD by 51.3% in the 4th quarter. Wells Fargo & Company MN now owns 39,542 shares of the technology company’s stock valued at $72,000 after acquiring an additional 13,402 shares in the last quarter. Perritt Capital Management Inc boosted its stake in iCAD by 1.9% in the 4th quarter. Perritt Capital Management Inc now owns 189,100 shares of the technology company’s stock worth $346,000 after purchasing an additional 3,600 shares during the period. Finally, Geode Capital Management LLC boosted its stake in iCAD by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 276,493 shares of the technology company’s stock worth $506,000 after purchasing an additional 17,059 shares during the period. Hedge funds and other institutional investors own 24.61% of the company’s stock.

iCAD Stock Performance

iCAD stock opened at $3.68 on Friday. The firm has a market cap of $101.09 million, a PE ratio of -28.31 and a beta of 1.38. The firm’s 50 day moving average price is $3.37 and its two-hundred day moving average price is $2.66. iCAD, Inc. has a twelve month low of $1.18 and a twelve month high of $4.02.

iCAD (NASDAQ:ICAD) last posted its quarterly earnings results on Tuesday, May 13th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. iCAD had a negative net margin of 17.81% and a negative return on equity of 15.65%. The business had revenue of $4.87 million for the quarter, compared to analysts’ expectations of $4.54 million.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BTIG Research lowered iCAD from a “buy” rating to a “neutral” rating in a report on Wednesday, April 16th. Laidlaw reissued a “hold” rating on shares of iCAD in a research report on Thursday, April 17th. Craig Hallum downgraded iCAD from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, Wall Street Zen assumed coverage on iCAD in a research report on Tuesday, May 20th. They set a “sell” rating for the company.

About iCAD

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.