Zacks Investment Research cut shares of Novadaq Technologies Inc. (NASDAQ:NVDQ) (TSE:NDQ) from a hold rating to a sell rating in a research note published on Tuesday morning.
According to Zacks, “Novadaq Technologies Inc. develops, manufactures and markets real-time fluorescence imaging products for use in the operating room and other clinical settings. The company’s key markets include plastic reconstructive, gastrointestinal, cardiac and general surgery. It provides SPY imaging systems which enables surgeons to the visualize blood flow in vessels, co-joined vessels and micro-vessels. Novadaq Technologies Inc. is headquartered in Mississauga, Canada. “
Several other research firms have also recently weighed in on NVDQ. Wedbush reaffirmed a positive rating and set a $17.00 price objective on shares of Novadaq Technologies in a research report on Tuesday, September 20th. Noble Financial cut Novadaq Technologies from a strong-buy rating to a buy rating in a research report on Thursday, November 3rd. JMP Securities reaffirmed a buy rating on shares of Novadaq Technologies in a research report on Sunday, November 6th. Feltl & Co. cut Novadaq Technologies from a strong-buy rating to a buy rating in a research report on Thursday, November 3rd. Finally, BTIG Research reaffirmed a hold rating on shares of Novadaq Technologies in a research report on Wednesday, November 16th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Novadaq Technologies has a consensus rating of Buy and an average price target of $11.56.
Shares of Novadaq Technologies (NASDAQ:NVDQ) opened at 6.37 on Tuesday. The stock’s market capitalization is $365.89 million. Novadaq Technologies has a 52 week low of $6.00 and a 52 week high of $13.22. The stock has a 50 day moving average price of $7.28 and a 200 day moving average price of $9.71.
Novadaq Technologies (NASDAQ:NVDQ) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.03. The firm had revenue of $22.16 million for the quarter, compared to the consensus estimate of $22.21 million. Novadaq Technologies had a negative net margin of 55.26% and a negative return on equity of 31.34%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) earnings per share. On average, equities research analysts expect that Novadaq Technologies will post ($0.79) EPS for the current year.
Hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. boosted its stake in shares of Novadaq Technologies by 17.6% in the third quarter. D.A. Davidson & CO. now owns 10,019 shares of the company’s stock worth $114,000 after buying an additional 1,500 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Novadaq Technologies by 46.4% in the third quarter. PNC Financial Services Group Inc. now owns 14,338 shares of the company’s stock worth $165,000 after buying an additional 4,544 shares in the last quarter. Trellus Management Company LLC bought a new stake in shares of Novadaq Technologies during the third quarter worth approximately $191,000. US Bancorp DE boosted its stake in shares of Novadaq Technologies by 5.9% in the second quarter. US Bancorp DE now owns 20,725 shares of the company’s stock worth $203,000 after buying an additional 1,161 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Novadaq Technologies during the third quarter worth approximately $240,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.
Novadaq Technologies Company Profile
Novadaq Technologies Inc is a medical device company. The Company primarily develops, manufactures and markets real-time fluorescence imaging products that are designed for use by surgeons in the operating room and other clinical settings where open and minimally invasive surgery or interventional procedures are performed.
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