IceCure Medical (TASE:PMCN) Ltd. (NASDAQ: ICCM), a company specializing in surgical and medical instruments, announced today the appointment of Mr. Li Haixiang as a new director on its Board. This decision was made by the Board of Directors on Sunday and will stand until the next annual general meeting of the company's shareholders.
Mr. Haixiang is recognized for his extensive experience in finance, investment, and capital markets. He is the founder and managing partner of Virtus Inspire Ventures, a venture capital firm that focuses on early-stage technology companies.
Additionally, he holds several positions as an independent non-executive director, including at AVO Insurance Company Holding and FUTU Holding Limited (NASDAQ: FUTU), a $11.4 billion market cap company that has delivered an impressive 55% return over the past year. According to InvestingPro, FUTU maintains strong profitability with a $4.16 earnings per share.
Epoch Partner Investments Ltd., for which Mr. Haixiang has voting and dispositive power, is the controlling shareholder of IceCure Medical. His diverse leadership roles span multiple companies, showcasing his expertise in the field. Mr. Haixiang's academic credentials include a BA from South China University of Technology and an MA from China Europe International Business School.
IceCure Medical believes Mr. Haixiang's appointment will bring valuable insight and guidance to the Board, leveraging his extensive knowledge and experience in the sector. The company's Registration Statements on Form F-3 and Form S-8 filed with the Securities and Exchange Commission incorporate this report by reference. For investors seeking deeper insights, InvestingPro analysis indicates FUTU is currently trading below its Fair Value, with comprehensive financial health metrics and additional ProTips available for subscribers.
This move is part of IceCure Medical's ongoing efforts to strengthen its leadership and strategic direction.
The company's statement indicates that Mr. Haixiang's background aligns with its objectives and will contribute to its future initiatives. The information regarding this appointment is based on a press release statement from IceCure Medical.
In other recent news, Futu Holdings (NASDAQ:FUTU) Limited has been the center of several significant financial developments.
The company's third-quarter results showcased revenues surpassing both consensus and Jefferies' forecasts, despite non-GAAP net profit falling short of consensus expectations by 1.2%. The company also added approximately 487,000 new paying clients in the first nine months of 2024 and announced a special cash dividend of approximately $280 million to its shareholders.
Analyst firms have revised their stance on Futu Holdings. Jefferies raised its price target for the company to $109.20 and maintained a Buy rating. Meanwhile, Citi downgraded Futu Holdings from Buy to Neutral, despite increasing its price target to $95. Morgan Stanley (NYSE:MS) upgraded Futu Holdings from Equalweight to Overweight, reflecting confidence in the company's expansion, particularly in Singapore. Deutsche Bank (ETR:DBKGn) and JPMorgan (NYSE:JPM) also upgraded their price targets for Futu, citing resilient trading volumes and stable commissions.
BofA Securities raised its price target by 20% to $108.00, reflecting revised earnings estimates and increased valuation multiples. The firm pointed to the potential for asset reallocation into stock markets following the Federal Reserve's rate cut and recent market rallies as factors that could further enhance client asset inflows and trading activities for Futu.
Lastly, JPMorgan significantly hiked its target from $88.00 to $160.00, maintaining an Overweight rating due to improving retail sentiment in Hong Kong and mainland China.
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