HC Wainwright Comments on IceCure Medical Ltd’s Q3 2023 Earnings (NASDAQ:ICCM)

IceCure Medical Ltd (NASDAQ:ICCM – Get Rating) – Equities research analysts at HC Wainwright cut their Q3 2023 earnings per share (EPS) estimates for IceCure Medical in a report released on Tuesday, May 23rd. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings of ($0.09) per share for the quarter, down from their prior forecast of ($0.08). HC Wainwright has a “Buy” rating and a $3.00 price objective 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 Q4 2023 earnings at ($0.09) EPS, FY2023 earnings at ($0.35) EPS and FY2024 earnings at ($0.30) EPS.

IceCure Medical (NASDAQ:ICCM – Get Rating) last posted its earnings results on Monday, May 22nd. The company reported ($0.08) 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 company had revenue of $0.71 million for the quarter, compared to the consensus estimate of $0.95 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share.

IceCure Medical Price Performance

IceCure Medical stock opened at $1.12 on Thursday. IceCure Medical has a 12 month low of $0.75 and a 12 month high of $4.73. The stock’s 50 day moving average is $1.20 and its 200-day moving average is $1.22. 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 company has a market capitalization of $51.09 million, a price-to-earnings ratio of -2.79 and a beta of -0.12.

Hedge Funds Weigh In On IceCure Medical

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in IceCure Medical during the second quarter worth approximately $78,000. Boothbay Fund Management LLC lifted its stake in IceCure Medical by 100.0% during the fourth quarter. Boothbay Fund Management LLC now owns 40,000 shares of the company’s stock worth $62,000 after purchasing an additional 20,000 shares during the last quarter. Bank of America Corp DE lifted its stake in IceCure Medical by 57.2% during the fourth quarter. Bank of America Corp DE now owns 55,388 shares of the company’s stock worth $86,000 after purchasing an additional 20,159 shares during the last quarter. Finally, UBS Group AG lifted its stake in IceCure Medical by 1,302.3% during the fourth quarter. UBS Group AG now owns 28,986 shares of the company’s stock worth $45,000 after purchasing an additional 26,919 shares during 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.