BidaskClub Upgrades iCAD (NASDAQ:ICAD) to “Hold”

iCAD (NASDAQ:ICAD) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday, BidAskClub reports.

Separately, ValuEngine lowered shares of iCAD from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. iCAD presently has a consensus rating of “Buy” and an average target price of $13.50.

Shares of NASDAQ ICAD opened at $11.60 on Friday. The firm has a market cap of $221.68 million, a PE ratio of -11.37 and a beta of 1.32. The company has a current ratio of 2.79, a quick ratio of 2.53 and a debt-to-equity ratio of 0.26. iCAD has a 1-year low of $5.91 and a 1-year high of $15.31. The company has a fifty day moving average price of $10.07 and a 200 day moving average price of $10.36.

iCAD (NASDAQ:ICAD) last announced its earnings results on Tuesday, August 4th. The technology company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.57 million during the quarter. iCAD had a negative net margin of 69.88% and a negative return on equity of 75.69%. Equities research analysts forecast that iCAD will post -0.48 EPS for the current year.

In other iCAD news, Director Andy Sassine sold 10,000 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $9.53, for a total transaction of $95,300.00. Following the sale, the director now directly owns 1,364,882 shares of the company’s stock, valued at approximately $13,007,325.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Stacey M. Stevens sold 6,667 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $10.07, for a total transaction of $67,136.69. Following the sale, the president now directly owns 178,455 shares in the company, valued at $1,797,041.85. The disclosure for this sale can be found here. Insiders have sold a total of 65,794 shares of company stock worth $658,688 over the last three months. Insiders own 12.43% of the company’s stock.

Several hedge funds have recently modified their holdings of ICAD. Laidlaw Wealth Management LLC bought a new stake in shares of iCAD in the 2nd quarter valued at about $52,000. Morgan Stanley grew its stake in iCAD by 686.3% in the 1st quarter. Morgan Stanley now owns 9,624 shares of the technology company’s stock valued at $71,000 after buying an additional 8,400 shares during the last quarter. Citigroup Inc. grew its stake in iCAD by 37.0% in the 1st quarter. Citigroup Inc. now owns 10,881 shares of the technology company’s stock valued at $80,000 after buying an additional 2,941 shares during the last quarter. Stifel Financial Corp acquired a new position in iCAD in the 2nd quarter valued at about $105,000. Finally, SG Americas Securities LLC acquired a new position in iCAD in the 2nd quarter valued at about $109,000. 44.38% of the stock is currently owned by institutional investors.

About iCAD

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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