Novadaq Technologies Inc. (NASDAQ:NVDQ) shares dropped 3.5% during mid-day trading on Wednesday . The company traded as low as $11.39 and last traded at $11.43, with a volume of 137,957 shares. The stock had previously closed at $11.84.

NVDQ has been the topic of a number of research analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $15.00 target price on shares of Novadaq Technologies in a report on Thursday, July 7th. Zacks Investment Research raised Novadaq Technologies from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, June 29th. JMP Securities initiated coverage on Novadaq Technologies in a report on Wednesday, June 1st. They set a “mkt outperform” rating on the stock. Feltl & Co. raised Novadaq Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 28th. Finally, Northland Securities reaffirmed an “underperform” rating and set a $7.00 target price on shares of Novadaq Technologies in a report on Thursday, July 7th. Two analysts have rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.42.

The firm has a 50-day moving average price of $9.95 and a 200 day moving average price of $10.24. The company’s market cap is $670.27 million.

Novadaq Technologies (NASDAQ:NVDQ) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.15. During the same quarter last year, the firm posted ($0.22) earnings per share. The business had revenue of $20.12 million for the quarter, compared to analyst estimates of $19.97 million. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. Equities analysts expect that Novadaq Technologies Inc. will post ($0.73) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Novadaq Technologies stock. Jennison Associates LLC increased its stake in shares of Novadaq Technologies Inc. (NASDAQ:NVDQ) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,160,930 shares of the company’s stock after buying an additional 234,115 shares during the period. Jennison Associates LLC owned 5.62% of Novadaq Technologies worth $40,270,000 at the end of the most recent reporting period.

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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