Wedbush Reaffirms Positive Rating for Novadaq Technologies Inc. (NVDQ)
Wedbush restated their positive rating on shares of Novadaq Technologies Inc. (NASDAQ:NVDQ) in a research report sent to investors on Tuesday. Wedbush currently has a $17.00 price objective on the stock.
A number of other research firms have also recently commented on NVDQ. Canaccord Genuity reissued a buy rating and issued a $15.00 price target on shares of Novadaq Technologies in a research note on Monday, August 29th. Zacks Investment Research cut shares of Novadaq Technologies from a buy rating to a sell rating in a research note on Tuesday, August 2nd. JMP Securities assumed coverage on shares of Novadaq Technologies in a research note on Wednesday, June 1st. They issued a mkt outperform rating for the company. Feltl & Co. raised shares of Novadaq Technologies from a buy rating to a strong-buy rating in a research note on Thursday, July 28th. Finally, Northland Securities reissued an underperform rating and issued a $7.00 price target on shares of Novadaq Technologies in a research note 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’s stock. The stock has an average rating of Buy and a consensus price target of $13.42.
Novadaq Technologies (NASDAQ:NVDQ) opened at 12.15 on Tuesday. The company’s 50-day moving average is $11.68 and its 200-day moving average is $10.62. The company’s market cap is $697.84 million. Novadaq Technologies has a 52 week low of $8.26 and a 52 week high of $14.36.
Novadaq Technologies (NASDAQ:NVDQ) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.29) EPS for the quarter, missing the Zacks’ 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 analysts’ expectations of $19.97 million. During the same period in the prior year, the firm earned ($0.22) EPS. Novadaq Technologies’s quarterly revenue was up 33.5% on a year-over-year basis. On average, analysts anticipate that Novadaq Technologies will post ($0.73) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. 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 valued at $3,805,000 after buying an additional 916,338 shares during the period. Gagnon Securities LLC increased its stake in 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 in the last quarter. JPMorgan Chase & Co. increased its stake in 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 in the last quarter. Gagnon Advisors LLC acquired a new stake in Novadaq Technologies during the second quarter worth $3,115,000. Finally, AXA increased its stake in 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 in 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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