Goldman Sachs Group Inc. reduced its position in shares of iCAD, Inc. (NASDAQ:ICAD) by 19.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,063 shares of the technology company’s stock after selling 21,535 shares during the quarter. Goldman Sachs Group Inc. owned 0.36% of iCAD worth $1,542,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of iCAD by 11.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,106 shares of the technology company’s stock worth $227,000 after purchasing an additional 1,384 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in iCAD in the 2nd quarter worth $254,000. Alliancebernstein L.P. lifted its stake in iCAD by 15.4% in the 2nd quarter. Alliancebernstein L.P. now owns 15,000 shares of the technology company’s stock worth $260,000 after purchasing an additional 2,000 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of iCAD during the 2nd quarter valued at about $367,000. Finally, Bank of New York Mellon Corp grew its position in shares of iCAD by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 54,999 shares of the technology company’s stock valued at $952,000 after purchasing an additional 2,614 shares in the last quarter. Hedge funds and other institutional investors own 49.98% of the company’s stock.
ICAD opened at $7.65 on Tuesday. iCAD, Inc. has a one year low of $7.51 and a one year high of $21.44. The stock has a market cap of $192.08 million, a price-to-earnings ratio of -21.25 and a beta of 1.01. The stock’s 50 day moving average price is $10.14 and its 200-day moving average price is $13.12.
iCAD (NASDAQ:ICAD) last announced its quarterly earnings data on Tuesday, November 9th. The technology company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). The business had revenue of $9.36 million during the quarter, compared to the consensus estimate of $9.41 million. iCAD had a negative net margin of 23.98% and a negative return on equity of 17.38%. During the same period last year, the company earned ($0.08) EPS. As a group, sell-side analysts expect that iCAD, Inc. will post -0.27 EPS for the current year.
ICAD has been the subject of several research analyst reports. Oppenheimer restated a “buy” rating and set a $24.00 price target on shares of iCAD in a report on Monday, August 30th. JMP Securities reissued a “buy” rating and issued a $18.00 target price (down from $22.00) on shares of iCAD in a report on Wednesday, November 10th. Zacks Investment Research raised shares of iCAD from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research note on Thursday, November 25th. Finally, BTIG Research restated a “buy” rating and set a $24.00 price objective on shares of iCAD in a research report on Wednesday, November 10th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, iCAD currently has an average rating of “Buy” and an average target price of $20.42.
In other iCAD news, CTO Jonathan Go sold 8,750 shares of iCAD stock in a transaction on Monday, November 8th. The stock was sold at an average price of $10.86, for a total transaction of $95,025.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Sassine sold 10,000 shares of iCAD stock in a transaction dated Wednesday, October 6th. The shares were sold at an average price of $10.56, for a total value of $105,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,750 shares of company stock valued at $420,425 in the last quarter. 12.50% of the stock is currently owned by company insiders.
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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