Novadaq Technologies Inc. (NVDQ) Stock Rating Reaffirmed by Wedbush
Novadaq Technologies Inc. (NASDAQ:NVDQ)‘s stock had its “positive” rating reissued by stock analysts at Wedbush in a research report issued on Tuesday.
Other research analysts have also issued reports about the company. Canaccord Genuity reiterated a “buy” rating and set a $15.00 price target on shares of Novadaq Technologies in a report on Thursday, July 28th. Zacks Investment Research upgraded Novadaq Technologies from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, June 29th. JMP Securities began coverage on Novadaq Technologies in a report on Wednesday, June 1st. They set a “mkt outperform” rating for the company. Feltl & Co. upgraded Novadaq Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 28th. Finally, Northland Securities reiterated an “underperform” rating and set a $7.00 price target on shares of Novadaq Technologies in a report on Thursday, July 7th. Two analysts have rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Novadaq Technologies presently has a consensus rating of “Buy” and an average target price of $13.42.
Novadaq Technologies (NASDAQ:NVDQ) traded up 2.99% during midday trading on Tuesday, reaching $12.07. The company’s stock had a trading volume of 125,813 shares. The firm’s market capitalization is $693.24 million. Novadaq Technologies has a 1-year low of $8.26 and a 1-year high of $14.36. The firm has a 50 day moving average price of $11.56 and a 200 day moving average price of $10.58.
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Novadaq Technologies (NASDAQ:NVDQ) last posted its earnings results on Wednesday, July 27th. The company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.15. Novadaq Technologies had a negative return on equity of 25.28% and a negative net margin of 49.45%. The company earned $20.12 million during the quarter, compared to analyst estimates of $19.97 million. During the same quarter last year, the firm posted ($0.22) earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. On average, analysts predict that Novadaq Technologies will post ($0.73) EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of NVDQ. Goldman Sachs Group Inc. raised its position in shares of Novadaq Technologies by 159.8% in the first quarter. Goldman Sachs Group Inc. now owns 343,073 shares of the company’s stock worth $3,805,000 after buying an additional 916,338 shares during the last quarter. Gagnon Securities LLC raised its position in shares of Novadaq Technologies by 374.9% in the first quarter. Gagnon Securities LLC now owns 470,464 shares of the company’s stock worth $5,217,000 after buying an additional 371,402 shares during the last quarter. JPMorgan Chase & Co. raised 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. Gagnon Advisors LLC purchased a new position in shares of Novadaq Technologies during the second quarter worth approximately $3,115,000. Finally, AXA raised its position in shares of Novadaq Technologies by 36.3% in the first quarter. AXA now owns 1,089,491 shares of the company’s stock worth $12,082,000 after buying an additional 290,276 shares during the last quarter. Institutional investors and hedge funds 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.
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