Novadaq Technologies Inc. (NVDQ) Sees Large Volume Increase
Novadaq Technologies Inc. (NASDAQ:NVDQ) saw unusually-strong trading volume on Thursday . Approximately 267,156 shares traded hands 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.
A number of research analysts have weighed in on NVDQ shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Novadaq Technologies in a report on Thursday. Zacks Investment Research raised shares of Novadaq Technologies from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Wednesday, June 29th. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Novadaq Technologies in a report on Friday, March 11th. JMP Securities started coverage on shares of Novadaq Technologies in a report on Wednesday, June 1st. They issued a “mkt outperform” rating for the company. Finally, Northland Securities reaffirmed an “underperform” rating and issued a $7.00 price objective on shares of Novadaq Technologies in a report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Novadaq Technologies presently has an average rating of “Buy” and an average price target of $13.58.
The firm’s market capitalization is $505.97 million. The stock’s 50 day moving average is $9.83 and its 200 day moving average is $10.72.
Novadaq Technologies (NASDAQ:NVDQ) last issued its quarterly earnings results on Wednesday, April 27th. The company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.05. The business had revenue of $17.70 million for the quarter, compared to analyst estimates of $17.49 million. During the same quarter in the prior year, the company earned ($0.20) EPS. The firm’s revenue for the quarter was up 51.3% on a year-over-year basis. Equities analysts expect that Novadaq Technologies Inc. will post ($0.50) earnings per share for the current year.
An institutional investor recently raised its position in Novadaq Technologies stock. Jennison Associates LLC raised its position 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 filing with the SEC.
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.
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