Novadaq Technologies Inc. (NVDQ) Rating Increased to Hold at Zacks Investment Research
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. “
A number of other research firms have also weighed in on NVDQ. Wedbush reiterated a “positive” rating and set a $17.00 target price on shares of Novadaq Technologies in a report on Tuesday, September 20th. Canaccord Genuity restated a “buy” rating and issued a $15.00 price objective on shares of Novadaq Technologies in a report on Thursday, July 28th. Northland Securities restated an “underperform” rating and issued a $7.00 price objective on shares of Novadaq Technologies in a report on Thursday, July 7th. Finally, Feltl & Co. upgraded shares of Novadaq Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 28th. One equities 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 issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $13.42.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/novadaq-technologies-inc-nvdq-rating-increased-to-hold-at-zacks-investment-research.html
Novadaq Technologies (NASDAQ:NVDQ) opened at 10.77 on Wednesday. The stock has a 50 day moving average price of $11.76 and a 200-day moving average price of $10.79. Novadaq Technologies has a 52 week low of $8.26 and a 52 week high of $14.36. The stock’s market cap is $618.57 million.
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 Zacks’ consensus estimate of ($0.14) by $0.15. The firm had revenue of $20.12 million for the quarter, compared to analysts’ expectations of $19.97 million. Novadaq Technologies had a negative return on equity of 25.28% and a negative net margin of 49.45%. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.22) earnings per share. On average, equities analysts anticipate that Novadaq Technologies will post ($0.73) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its position in Novadaq Technologies by 2.5% in the first quarter. UBS Group AG now owns 97,800 shares of the company’s stock valued at $1,085,000 after buying an additional 2,425 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Novadaq Technologies by 159.8% in the first quarter. Goldman Sachs Group Inc. now owns 343,073 shares of the company’s stock valued at $3,805,000 after buying an additional 916,338 shares during the last quarter. Elk Creek Partners LLC raised its position 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 valued at $17,120,000 after buying an additional 173,360 shares during the last quarter. Bellevue Group AG acquired a new position in Novadaq Technologies during the first quarter valued at about $2,994,000. Finally, Cortina Asset Management LLC raised its position in Novadaq Technologies by 9.5% in the second quarter. Cortina Asset Management LLC now owns 779,740 shares of the company’s stock valued at $7,673,000 after buying an additional 67,406 shares during the last quarter. Hedge funds and other institutional investors own 88.64% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Novadaq Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novadaq Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.