Northland Securities Reaffirms Hold Rating for Novadaq Technologies Inc (NVDQ)
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.
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