Novadaq Technologies Inc. (NASDAQ:NVDQ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “

NVDQ has been the subject of a number of other reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $15.00 target price on shares of Novadaq Technologies in a research report on Monday, August 29th. Feltl & Co. raised Novadaq Technologies from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 28th. Northland Securities reaffirmed an “underperform” rating and issued a $7.00 target price on shares of Novadaq Technologies in a research report on Thursday, July 7th. Finally, Wedbush reaffirmed a “positive” rating and issued a $17.00 target price on shares of Novadaq Technologies in a research report on Tuesday, September 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Novadaq Technologies presently has an average rating of “Buy” and an average price target of $13.42.

Analyst Recommendations for Novadaq Technologies (NASDAQ:NVDQ)

Shares of Novadaq Technologies (NASDAQ:NVDQ) opened at 10.77 on Wednesday. Novadaq Technologies has a 52-week low of $8.26 and a 52-week high of $14.36. The firm’s market capitalization is $618.57 million. The stock has a 50 day moving average price of $11.76 and a 200-day moving average price of $10.79.

Novadaq Technologies (NASDAQ:NVDQ) last issued its earnings results on Wednesday, July 27th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.15. Novadaq Technologies had a negative net margin of 49.45% and a negative return on equity of 25.28%. The firm earned $20.12 million during the quarter, compared to the consensus estimate of $19.97 million. During the same period in the previous year, the firm earned ($0.22) earnings per share. The business’s quarterly revenue was up 33.5% on a year-over-year basis. Equities analysts forecast that Novadaq Technologies will post ($0.73) EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Novadaq Technologies by 4.8% in the second quarter. JPMorgan Chase & Co. now owns 7,237,890 shares of the company’s stock worth $71,220,000 after buying an additional 331,049 shares during the last quarter. Geduld E E increased its position in shares of Novadaq Technologies by 20.0% in the second quarter. Geduld E E now owns 15,000 shares of the company’s stock worth $148,000 after buying an additional 2,500 shares during the last quarter. DIAM Co. Ltd. increased its position in shares of Novadaq Technologies by 7.4% in the second quarter. DIAM Co. Ltd. now owns 115,810 shares of the company’s stock worth $1,123,000 after buying an additional 7,997 shares during the last quarter. Riverbridge Partners LLC increased its position in shares of Novadaq Technologies by 5.7% in the second quarter. Riverbridge Partners LLC now owns 1,472,972 shares of the company’s stock worth $14,494,000 after buying an additional 79,114 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Novadaq Technologies by 14.3% in the second quarter. Bank of New York Mellon Corp now owns 41,529 shares of the company’s stock worth $407,000 after buying an additional 5,185 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.

5 Day Chart for NASDAQ:NVDQ

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