iCAD (NASDAQ:ICAD) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of iCAD (NASDAQ:ICAD) from a buy rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Icad, Inc. designs, engineers, develops and manufactures digital image scanners, densitometers, film digitizers and related software for applications in the graphic arts, medical imaging and life sciences markets. The Company sells its products throughout the world through various distributors, resellers, systems integrators and OEM’s. “

A number of other analysts also recently commented on the company. JMP Securities reaffirmed a buy rating and set a $13.00 price target on shares of iCAD in a research report on Wednesday, January 5th. Lake Street Capital decreased their price target on iCAD from $25.00 to $22.00 and set a buy rating for the company in a research report on Wednesday, January 5th. Oppenheimer decreased their price target on iCAD from $22.00 to $16.00 and set an outperform rating for the company in a research report on Wednesday, January 5th. Finally, BTIG Research reaffirmed a buy rating and set a $24.00 price target on shares of iCAD in a research report on Wednesday, November 10th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $18.83.

Shares of iCAD stock opened at $6.09 on Wednesday. iCAD has a 52 week low of $5.27 and a 52 week high of $21.44. The business has a 50 day moving average price of $7.40 and a 200-day moving average price of $10.73.

iCAD (NASDAQ:ICAD) last issued its quarterly earnings data on Tuesday, November 9th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $9.36 million during the quarter, compared to analysts’ expectations of $9.41 million. iCAD had a negative return on equity of 17.38% and a negative net margin of 23.98%. During the same period last year, the company earned ($0.08) earnings per share. On average, equities research analysts predict that iCAD will post -0.4 earnings per share for the current fiscal year.

In related news, CFO Charles Ross Carter purchased 7,000 shares of the business’s stock in a transaction dated Wednesday, December 8th. The stock was purchased at an average cost of $7.05 per share, with a total value of $49,350.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael S. Klein purchased 13,475 shares of the business’s stock in a transaction dated Wednesday, December 8th. The stock was bought at an average cost of $7.38 per share, with a total value of $99,445.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 21,975 shares of company stock valued at $159,761 and sold 28,750 shares valued at $271,025. 12.50% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its stake in iCAD by 324.2% during the third quarter. BNP Paribas Arbitrage SA now owns 4,119 shares of the technology company’s stock valued at $44,000 after buying an additional 3,148 shares during the period. Metropolitan Life Insurance Co NY boosted its stake in iCAD by 94,542.9% during the second quarter. Metropolitan Life Insurance Co NY now owns 6,625 shares of the technology company’s stock valued at $115,000 after buying an additional 6,618 shares during the period. The Manufacturers Life Insurance Company boosted its stake in iCAD by 11.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,106 shares of the technology company’s stock valued at $227,000 after buying an additional 1,384 shares during the period. Apollon Wealth Management LLC bought a new stake in iCAD during the second quarter valued at $254,000. Finally, Raymond James & Associates bought a new stake in iCAD during the third quarter valued at $158,000. 50.60% of the stock is owned by institutional investors.

iCAD Company Profile

iCAD, Inc is a medical technology company, which engages in the provision cancer detection and therapy solutions. It operates through the Cancer Detection and Cancer Therapy segments. The Cancer Detection segment include image analysis and workflow products. The Cancer Therapy segment consists radiation therapy products.

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