Wedbush reaffirmed their outperform rating on shares of Novadaq Technologies Inc. (NASDAQ:NVDQ) (TSE:NDQ) in a report published on Tuesday morning. They currently have a $17.00 price objective on the stock.

Other analysts have also issued reports about the company. Canaccord Genuity reiterated a buy rating and set a $15.00 price objective on shares of Novadaq Technologies in a report on Monday, August 29th. Noble Financial lowered Novadaq Technologies from a strong-buy rating to a buy rating in a report on Thursday, November 3rd. Zacks Investment Research lowered Novadaq Technologies from a buy rating to a sell rating in a report on Tuesday, August 2nd. JMP Securities reiterated a buy rating on shares of Novadaq Technologies in a report on Sunday, November 6th. Finally, Feltl & Co. lowered Novadaq Technologies from a strong-buy rating to a buy rating in a report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $13.10.

Novadaq Technologies (NASDAQ:NVDQ) opened at 8.35 on Tuesday. Novadaq Technologies has a 1-year low of $8.00 and a 1-year high of $14.36. The firm’s market cap is $479.62 million. The company has a 50 day moving average price of $10.37 and a 200 day moving average price of $10.45.

Novadaq Technologies (NASDAQ:NVDQ) last released its earnings results on Wednesday, November 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.03. The business earned $22.16 million during the quarter, compared to analysts’ expectations of $22.21 million. Novadaq Technologies had a negative net margin of 55.26% and a negative return on equity of 31.34%. Novadaq Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.11) EPS. On average, equities research analysts forecast that Novadaq Technologies will post ($0.77) earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Novadaq Technologies by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 7,286,103 shares of the company’s stock worth $84,301,000 after buying an additional 48,213 shares during the period. Primecap Management Co. CA increased its stake in Novadaq Technologies by 3.0% in the second quarter. Primecap Management Co. CA now owns 5,420,582 shares of the company’s stock worth $53,339,000 after buying an additional 160,000 shares during the period. Riverbridge Partners LLC increased its stake in Novadaq Technologies by 60.2% in the third quarter. Riverbridge Partners LLC now owns 2,359,147 shares of the company’s stock worth $27,295,000 after buying an additional 886,175 shares during the period. Elk Creek Partners LLC increased its stake in Novadaq Technologies by 11.1% in the second quarter. Elk Creek Partners LLC now owns 1,739,869 shares of the company’s stock worth $10,016,000 after buying an additional 173,360 shares during the period. Finally, AXA increased its stake in Novadaq Technologies by 1.9% in the second quarter. AXA now owns 1,110,000 shares of the company’s stock worth $10,922,000 after buying an additional 20,509 shares during the period. 88.59% of the stock is currently owned by institutional investors and hedge funds.

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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