Nuveen Asset Management LLC Takes Position in iCAD Inc (NASDAQ:ICAD)
Nuveen Asset Management LLC purchased a new stake in shares of iCAD Inc (NASDAQ:ICAD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 70,234 shares of the technology company’s stock, valued at approximately $702,000. Nuveen Asset Management LLC owned about 0.31% of iCAD at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of ICAD. Laidlaw Wealth Management LLC purchased a new position in shares of iCAD during the 2nd quarter valued at $52,000. Morgan Stanley lifted its position in shares of iCAD by 686.3% during 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. lifted its position in shares of iCAD by 37.0% during 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 bought a new stake in shares of iCAD during the 2nd quarter valued at $105,000. Finally, SG Americas Securities LLC bought a new stake in shares of iCAD during the 2nd quarter valued at $109,000. 44.38% of the stock is currently owned by hedge funds and other institutional investors.
In other iCAD news, President Stacey M. Stevens sold 6,667 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $10.07, for a total value of $67,136.69. Following the transaction, the president now directly owns 178,455 shares in the company, valued at approximately $1,797,041.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Sassine sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $9.40, for a total value of $94,000.00. Following the completion of the transaction, the director now owns 1,324,882 shares of the company’s stock, valued at $12,453,890.80. The disclosure for this sale can be found here. Insiders sold a total of 61,667 shares of company stock worth $619,618 over the last 90 days. Corporate insiders own 12.43% of the company’s stock.
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 analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $5.57 million for the quarter. iCAD had a negative return on equity of 75.69% and a negative net margin of 69.88%. As a group, research analysts anticipate that iCAD Inc will post -0.48 EPS for the current fiscal year.
A number of analysts recently issued reports on ICAD shares. ValuEngine upgraded iCAD from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. BidaskClub upgraded iCAD from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. iCAD presently has a consensus rating of “Buy” and an average target price of $13.50.
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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