Novadaq Technologies Inc (NVDQ) Downgraded to Hold at Craig Hallum
Novadaq Technologies Inc (NASDAQ:NVDQ) (TSE:NDQ) was downgraded by research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They currently have a $11.75 price objective on the medical research company’s stock. Craig Hallum’s price objective would indicate a potential downside of 0.42% from the stock’s previous close.
Several other analysts also recently weighed in on the company. Wedbush downgraded Novadaq Technologies from an “outperform” rating to a “neutral” rating in a research report on Monday. Northland Securities restated a “hold” rating and set a $11.75 price objective on shares of Novadaq Technologies in a research report on Monday. Stifel Nicolaus restated a “buy” rating and set a $10.00 price objective on shares of Novadaq Technologies in a research report on Friday, June 2nd. Zacks Investment Research upgraded Novadaq Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Finally, Scotiabank reiterated an “outperform” rating and issued a $18.00 target price on shares of Novadaq Technologies in a research report on Thursday, May 4th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $11.22.
Novadaq Technologies (NASDAQ NVDQ) opened at 11.80 on Monday. Novadaq Technologies has a one year low of $5.84 and a one year high of $12.74. The company’s market capitalization is $682.06 million. The firm’s 50 day moving average price is $7.31 and its 200-day moving average price is $7.25.
Novadaq Technologies (NASDAQ:NVDQ) (TSE:NDQ) last announced its quarterly earnings data on Wednesday, May 3rd. The medical research company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.03. Novadaq Technologies had a negative return on equity of 49.93% and a negative net margin of 71.97%. The business had revenue of $21.08 million for the quarter, compared to the consensus estimate of $20.12 million. Equities analysts forecast that Novadaq Technologies will post ($0.80) earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of NVDQ. Boothbay Fund Management LLC acquired a new stake in Novadaq Technologies during the fourth quarter valued at approximately $118,000. Quantitative Systematic Strategies LLC acquired a new stake in Novadaq Technologies during the first quarter valued at approximately $169,000. State Street Corp boosted its stake in Novadaq Technologies by 4.5% in the fourth quarter. State Street Corp now owns 26,164 shares of the medical research company’s stock valued at $186,000 after buying an additional 1,138 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake 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, Geode Capital Management LLC boosted its stake in Novadaq Technologies by 8.2% in the first quarter. Geode Capital Management LLC now owns 29,004 shares of the medical research company’s stock valued at $225,000 after buying an additional 2,194 shares in the last quarter. 88.25% of the stock is owned by institutional investors.
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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