Zacks Investment Research cut shares of Novadaq Technologies Inc (NASDAQ:NVDQ) (TSE:NDQ) from a hold rating to a sell rating in a report released on Wednesday.
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 issued reports on NVDQ. First Analysis lowered shares of Novadaq Technologies from an overweight rating to an equal weight rating in a report on Tuesday, June 20th. Canaccord Genuity reaffirmed a buy rating and issued a $10.00 price target on shares of Novadaq Technologies in a report on Monday, June 19th. Scotiabank reaffirmed an outperform rating and issued a $18.00 price target on shares of Novadaq Technologies in a report on Thursday, May 4th. Wedbush lowered shares of Novadaq Technologies from an outperform rating to a neutral rating in a report on Monday, June 19th. Finally, Stifel Nicolaus lowered shares of Novadaq Technologies from a buy rating to a hold rating and set a $11.75 price target on the stock. in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Novadaq Technologies presently has a consensus rating of Hold and a consensus target price of $11.44.
Novadaq Technologies (NASDAQ:NVDQ) traded down 0.0860% during trading on Wednesday, reaching $11.7399. The company had a trading volume of 335,037 shares. The stock has a 50 day moving average of $8.20 and a 200-day moving average of $7.47. Novadaq Technologies has a 12-month low of $5.84 and a 12-month high of $12.74. The stock’s market capitalization is $678.59 million.
Novadaq Technologies (NASDAQ:NVDQ) (TSE:NDQ) last released its quarterly earnings results on Wednesday, May 3rd. The medical research company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. Novadaq Technologies had a negative return on equity of 49.93% and a negative net margin of 71.97%. The firm had revenue of $21.08 million during the quarter, compared to analysts’ expectations of $20.12 million. On average, analysts forecast that Novadaq Technologies will post ($0.80) earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Novadaq Technologies by 18.9% in the fourth quarter. FMR LLC now owns 2,380,983 shares of the medical research company’s stock worth $16,881,000 after buying an additional 377,983 shares during the period. Two Sigma Investments LP raised its stake in shares of Novadaq Technologies by 46.0% in the fourth quarter. Two Sigma Investments LP now owns 78,244 shares of the medical research company’s stock worth $555,000 after buying an additional 24,652 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in shares of Novadaq Technologies during the first quarter worth $169,000. Granite Investment Partners LLC raised its stake in shares of Novadaq Technologies by 164.0% in the first quarter. Granite Investment Partners LLC now owns 462,676 shares of the medical research company’s stock worth $3,605,000 after buying an additional 287,392 shares during the period. Finally, Garrison Bradford & Associates Inc. raised its stake in shares of Novadaq Technologies by 12.2% in the first quarter. Garrison Bradford & Associates Inc. now owns 174,700 shares of the medical research company’s stock worth $1,361,000 after buying an additional 19,000 shares during the period. 88.25% of the stock is currently owned by hedge funds and other institutional investors.
About Novadaq Technologies
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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