HC Wainwright Comments on IceCure Medical Ltd’s Q1 2024 Earnings (NASDAQ:ICCM)

IceCure Medical Ltd (NASDAQ:ICCM – Get Rating) – Equities research analysts at HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for IceCure Medical in a research note issued on Tuesday, May 23rd. HC Wainwright analyst Y. Chen anticipates that the company will post earnings of ($0.09) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $3.00 target price on the stock. The consensus estimate for IceCure Medical’s current full-year earnings is ($0.36) per share. HC Wainwright also issued estimates for IceCure Medical’s Q2 2024 earnings at ($0.08) EPS, Q3 2024 earnings at ($0.07) EPS and Q4 2024 earnings at ($0.07) EPS.

IceCure Medical Stock Performance

NASDAQ ICCM opened at $1.12 on Wednesday. The company has a current ratio of 5.50, a quick ratio of 5.83 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $1.20 and its two-hundred day moving average is $1.22. IceCure Medical has a 12-month low of $0.75 and a 12-month high of $4.73. The stock has a market capitalization of $51.09 million, a price-to-earnings ratio of -2.79 and a beta of -0.12.

IceCure Medical (NASDAQ:ICCM – Get Rating) last issued its quarterly earnings results on Monday, May 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. IceCure Medical had a negative return on equity of 79.90% and a negative net margin of 534.74%. The firm had revenue of $0.71 million for the quarter, compared to analysts’ expectations of $0.95 million. During the same quarter in the previous year, the firm posted ($0.12) EPS.

Hedge Funds Weigh In On IceCure Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new stake in IceCure Medical in the 2nd quarter valued at approximately $78,000. UBS Group AG increased its holdings in IceCure Medical by 1,302.3% in the 4th quarter. UBS Group AG now owns 28,986 shares of the company’s stock valued at $45,000 after purchasing an additional 26,919 shares in the last quarter. Boothbay Fund Management LLC increased its holdings in IceCure Medical by 100.0% in the 4th quarter. Boothbay Fund Management LLC now owns 40,000 shares of the company’s stock valued at $62,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in IceCure Medical by 57.2% in the 4th quarter. Bank of America Corp DE now owns 55,388 shares of the company’s stock valued at $86,000 after purchasing an additional 20,159 shares in the last quarter.

About IceCure Medical

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IceCure Medical Ltd, a medical device company, engages in the research, development, and commercialization of medical devices for cryoablation (freezing) of tumors in the human body. It offers ProSense system, a cryoablation solution for the treatment of breast tumors. The company was incorporated in 2006 and is headquartered in Caesarea, Israel.