Novadaq Technologies Inc. (NASDAQ:NVDQ) shares saw unusually-strong trading volume on Thursday . Approximately 267,156 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 293,610 shares.The stock last traded at $8.71 and had previously closed at $8.80.

Several equities research analysts have recently weighed in on NVDQ shares. Zacks Investment Research downgraded Novadaq Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. Piper Jaffray Cos. reissued a “buy” rating on shares of Novadaq Technologies in a report on Friday, March 11th. Canaccord Genuity reissued a “buy” rating and issued a $15.00 price objective on shares of Novadaq Technologies in a report on Thursday. Northland Securities reissued an “underperform” rating and issued a $7.00 price objective on shares of Novadaq Technologies in a report on Thursday. Finally, JMP Securities started coverage on Novadaq Technologies in a report on Wednesday, June 1st. They issued a “mkt outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.58.

The firm’s market capitalization is $505.97 million. The stock has a 50-day moving average of $9.85 and a 200-day moving average of $10.75.

Novadaq Technologies (NASDAQ:NVDQ) last posted its quarterly earnings data on Wednesday, April 27th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $17.70 million for the quarter, compared to analysts’ expectations of $17.49 million. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. Novadaq Technologies’s revenue for the quarter was up 51.3% compared to the same quarter last year. On average, equities analysts expect that Novadaq Technologies Inc. will post ($0.50) EPS for the current fiscal year.

A hedge fund recently raised its stake in Novadaq Technologies stock. Jennison Associates LLC raised its stake in Novadaq Technologies Inc. (NASDAQ:NVDQ) by 8.0% during the fourth quarter, Holdings Channel reports. The institutional investor 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 as of its most recent SEC filing.

Novadaq Technologies Inc develops and commercializes medical imaging and therapeutic devices for use in the operating room. The Company’s imaging platform can be used to visualize blood vessels, nerves and the lymphatic system during surgical procedures. The Company generates revenues from the sale of medical devices and consumables, capital devices or consumable products, the rental of capital devices, royalties, upfront payments received from partners for exclusive sales and marketing rights, and extended warranty services agreements in connection with capital sales.