ValuEngine Downgrades iCAD (NASDAQ:ICAD) to Hold

ValuEngine lowered shares of iCAD (NASDAQ:ICAD) from a buy rating to a hold rating in a report issued on Tuesday morning, ValuEngine reports.

NASDAQ ICAD opened at $5.97 on Tuesday. The business has a fifty day moving average price of $6.26. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 2.90. iCAD has a 12-month low of $2.42 and a 12-month high of $7.22. The stock has a market capitalization of $119.04 million, a price-to-earnings ratio of -15.71 and a beta of 1.04.

iCAD (NASDAQ:ICAD) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.08. iCAD had a negative net margin of 36.24% and a negative return on equity of 54.45%. The business had revenue of $6.77 million for the quarter, compared to analyst estimates of $6.10 million. On average, analysts forecast that iCAD will post -0.4 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC purchased a new position in iCAD in the fourth quarter worth $48,000. Advisor Group Inc. grew its holdings in iCAD by 96,087.0% in the fourth quarter. Advisor Group Inc. now owns 22,123 shares of the technology company’s stock worth $82,000 after purchasing an additional 22,100 shares during the last quarter. Deutsche Bank AG grew its holdings in iCAD by 33.5% in the fourth quarter. Deutsche Bank AG now owns 35,923 shares of the technology company’s stock worth $132,000 after purchasing an additional 9,023 shares during the last quarter. Spark Investment Management LLC purchased a new position in iCAD in the first quarter worth $185,000. Finally, Columbia Pacific Advisors LLC grew its holdings in iCAD by 218.0% in the first quarter. Columbia Pacific Advisors LLC now owns 63,600 shares of the technology company’s stock worth $329,000 after purchasing an additional 43,600 shares during the last quarter. 18.98% of the stock is currently owned by institutional investors and hedge funds.

iCAD Company Profile

iCAD, Inc provides image analysis, workflow solutions, and radiation therapy for the early identification and treatment of cancer in the United States and internationally. It operates through two segments, Cancer Detection and Cancer Therapy. The company provides electronic brachytherapy (eBX) products, including Axxent eBx systems for the treatment of early stage breast cancer, endometrial cancer, cervical cancer, and skin cancer, as well as for treating other cancers or conditions where radiation therapy is indicated comprising intraoperative radiation therapy.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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