Novadaq Technologies Inc (NASDAQ:NVDQ) (TSE:NDQ) was downgraded by Wedbush from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports.

A number of other analysts have also commented on NVDQ. Northland Securities reaffirmed a “hold” rating and set a $11.75 price objective on shares of Novadaq Technologies in a research note on Monday. Royal Bank Of Canada set a $12.00 price objective on shares of Novadaq Technologies and gave the company a “buy” rating in a research note on Wednesday, March 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $10.00 price objective on shares of Novadaq Technologies in a research note on Wednesday, February 22nd. Feltl & Co. lowered shares of Novadaq Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. Finally, Zacks Investment Research lowered shares of Novadaq Technologies from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 4th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Novadaq Technologies presently has an average rating of “Buy” and a consensus price target of $11.84.

Analyst Recommendations for Novadaq Technologies (NASDAQ:NVDQ)

Shares of Novadaq Technologies (NASDAQ:NVDQ) traded up 95.50% during midday trading on Monday, hitting $11.73. 21,076,823 shares of the stock were exchanged. Novadaq Technologies has a one year low of $5.84 and a one year high of $12.74. The stock’s market cap is $678.02 million. The stock’s 50-day moving average price is $7.04 and its 200 day moving average price is $7.19.

Novadaq Technologies (NASDAQ:NVDQ) (TSE:NDQ) last posted its quarterly earnings data on Wednesday, May 3rd. The medical research company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.03. Novadaq Technologies had a negative net margin of 71.97% and a negative return on equity of 49.93%. The firm had revenue of $21.08 million for the quarter, compared to analysts’ expectations of $20.12 million. On average, analysts anticipate that Novadaq Technologies will post ($0.80) earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in NVDQ. FMR LLC increased its position in Novadaq Technologies by 30.5% in the first quarter. FMR LLC now owns 3,107,271 shares of the medical research company’s stock worth $24,206,000 after buying an additional 726,288 shares in the last quarter. Elk Creek Partners LLC increased its position in Novadaq Technologies by 6.9% in the first quarter. Elk Creek Partners LLC now owns 2,703,682 shares of the medical research company’s stock worth $21,062,000 after buying an additional 174,499 shares in the last quarter. Clearbridge Investments LLC increased its position in Novadaq Technologies by 0.4% in the first quarter. Clearbridge Investments LLC now owns 2,554,843 shares of the medical research company’s stock worth $19,902,000 after buying an additional 9,371 shares in the last quarter. OppenheimerFunds Inc. purchased a new position in Novadaq Technologies during the first quarter worth approximately $13,900,000. Finally, AXA increased its position in Novadaq Technologies by 8.2% in the first quarter. AXA now owns 1,160,732 shares of the medical research company’s stock worth $9,042,000 after buying an additional 88,378 shares in the last quarter. Hedge funds and other institutional investors own 88.25% 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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