Novadaq Technologies Inc (NASDAQ:NVDQ) (TSE:NDQ)‘s stock had its “hold” rating reaffirmed by analysts at Northland Securities in a research report issued on Monday. They presently have a $11.75 target price on the medical research company’s stock. Northland Securities’ price target would indicate a potential upside of 1.47% from the stock’s current price.

The analysts wrote, “We feel somewhat vindicated that the core biz was not doing OK, forward estimates were out of whack, and the bullish sell-side commentary at large was not based on a true understanding of the science…or ground fundamentals…Yes, it is water under the bridge now…..but sometimes postmortems are necessary.””

NVDQ has been the subject of a number of other reports. Scotiabank cut their target price on Novadaq Technologies from $15.50 to $13.25 and set an “outperform” rating for the company in a research note on Tuesday, June 20th. Canaccord Genuity lowered Novadaq Technologies from a “buy” rating to a “hold” rating and set a $11.75 target price for the company. in a research note on Monday, July 10th. Stifel Nicolaus restated a “buy” rating and issued a $10.00 target price on shares of Novadaq Technologies in a research note on Friday, June 2nd. Craig Hallum lowered Novadaq Technologies from a “buy” rating to a “hold” rating and set a $11.75 target price for the company. in a research note on Monday, June 19th. Finally, Zacks Investment Research upgraded Novadaq Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Novadaq Technologies has an average rating of “Hold” and a consensus price target of $11.86.

Novadaq Technologies (NVDQ) opened at 11.58 on Monday. Novadaq Technologies has a 12-month low of $5.84 and a 12-month high of $12.74. The firm’s market cap is $669.58 million. The firm has a 50-day moving average of $11.70 and a 200-day moving average of $8.53.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL bought a new position in Novadaq Technologies during the second quarter valued at about $145,000. Virtu Financial LLC bought a new position in Novadaq Technologies during the second quarter valued at about $157,000. Quantitative Systematic Strategies LLC bought a new position in Novadaq Technologies during the first quarter valued at about $169,000. Envestnet Asset Management Inc. raised its position in Novadaq Technologies by 12.9% in the first quarter. Envestnet Asset Management Inc. now owns 25,374 shares of the medical research company’s stock valued at $197,000 after buying an additional 2,898 shares in the last quarter. Finally, Wolverine Trading LLC bought a new position in Novadaq Technologies during the second quarter valued at about $254,000. Hedge funds and other institutional investors own 86.47% of the company’s stock.

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.

Analyst Recommendations for Novadaq Technologies (NASDAQ:NVDQ)

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