Novadaq Technologies Inc. (NASDAQ:NVDQ) shares dropped 0.2% during trading on Friday . The company traded as low as $8.75 and last traded at $8.79, with a volume of 147,907 shares changing hands. The stock had previously closed at $8.81.

NVDQ has been the subject of a number of research reports. Zacks Investment Research cut Novadaq Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Canaccord Genuity reiterated a “buy” rating and issued a $15.00 price target on shares of Novadaq Technologies in a research note on Thursday. Northland Securities reiterated an “underperform” rating and issued a $7.00 price target on shares of Novadaq Technologies in a research note on Thursday. Finally, JMP Securities initiated coverage on Novadaq Technologies in a research note 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 issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $13.58.

The firm’s market capitalization is $505.97 million. The firm has a 50 day moving average price of $9.83 and a 200 day moving average price of $10.72.

Novadaq Technologies (NASDAQ:NVDQ) last released its quarterly earnings results on Wednesday, April 27th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $17.70 million for the quarter, compared to analysts’ expectations of $17.49 million. The firm’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.20) earnings per share. Analysts predict that Novadaq Technologies Inc. will post ($0.50) earnings per share for the current year.

A hedge fund recently raised its stake in Novadaq Technologies stock. Jennison Associates LLC boosted its position in shares of Novadaq Technologies Inc. (NASDAQ:NVDQ) by 8.0% during the fourth quarter, Holdings Channel reports. 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 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.