iCAD (NASDAQ:ICAD) Raised to Buy at ValuEngine

ValuEngine upgraded shares of iCAD (NASDAQ:ICAD) from a hold rating to a buy rating in a report published on Thursday, ValuEngine reports.

Other equities research analysts also recently issued research reports about the company. Lake Street Capital assumed coverage on iCAD in a research report on Thursday, January 9th. They issued a buy rating and a $14.00 price objective on the stock. Dougherty & Co initiated coverage on iCAD in a research note on Friday, December 20th. They set a buy rating and a $10.00 price objective on the stock. JMP Securities initiated coverage on iCAD in a research note on Wednesday, February 5th. They set an outperform rating and a $15.00 price objective on the stock. Finally, Craig Hallum raised their price objective on iCAD from $9.00 to $15.00 and gave the company a buy rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, iCAD presently has an average rating of Buy and an average target price of $13.50.

ICAD stock traded up $0.38 during trading on Thursday, reaching $7.74. 300,331 shares of the stock were exchanged, compared to its average volume of 313,939. The firm’s 50 day moving average is $10.55 and its 200 day moving average is $8.36. iCAD has a twelve month low of $4.46 and a twelve month high of $15.31. The company has a current ratio of 1.55, a quick ratio of 1.41 and a debt-to-equity ratio of 3.45. The firm has a market cap of $169.36 million, a P/E ratio of -10.46 and a beta of 0.80.

iCAD (NASDAQ:ICAD) last posted its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $9.38 million for the quarter. iCAD had a negative return on equity of 92.89% and a negative net margin of 43.24%. As a group, analysts predict that iCAD will post -0.17 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC grew its stake in shares of iCAD by 30.8% in the third quarter. Squarepoint Ops LLC now owns 61,279 shares of the technology company’s stock worth $420,000 after purchasing an additional 14,439 shares during the last quarter. EAM Investors LLC boosted its position in iCAD by 4.9% during the 4th quarter. EAM Investors LLC now owns 350,880 shares of the technology company’s stock valued at $2,726,000 after acquiring an additional 16,308 shares in the last quarter. Virtu Financial LLC bought a new stake in iCAD during the 3rd quarter valued at approximately $106,000. Charles Schwab Investment Management Inc. bought a new stake in iCAD during the 4th quarter valued at approximately $80,000. Finally, Parkman Healthcare Partners LLC bought a new stake in iCAD during the 4th quarter valued at approximately $4,667,000. 27.70% of the stock is currently owned by institutional investors.

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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