Novadaq Technologies Inc. (NASDAQ:NVDQ)’s share price dropped 2% during trading on Monday . The stock traded as low as $8.94 and last traded at $8.99, with a volume of 92,099 shares changing hands. The stock had previously closed at $9.17.

NVDQ has been the topic of several research analyst reports. Canaccord Genuity restated a “buy” rating and set a $15.00 price target on shares of Novadaq Technologies in a report on Thursday, July 7th. Zacks Investment Research cut shares of Novadaq Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. Northland Securities restated an “underperform” rating and set a $7.00 price target on shares of Novadaq Technologies in a report on Thursday, July 7th. Finally, JMP Securities initiated coverage on shares of Novadaq Technologies in a report on Wednesday, June 1st. They set a “mkt outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $13.58.

The stock’s market capitalization is $519.18 million. The firm has a 50-day moving average price of $9.73 and a 200-day moving average price of $10.58.

Novadaq Technologies (NASDAQ:NVDQ) last issued its quarterly earnings data on Wednesday, April 27th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. During the same quarter in the previous year, the business earned ($0.20) earnings per share. The company had revenue of $17.70 million for the quarter, compared to analyst estimates of $17.49 million. The company’s revenue was up 51.3% on a year-over-year basis. On average, equities research 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 increased its stake in Novadaq Technologies Inc. (NASDAQ:NVDQ) by 8.0% during the fourth quarter, according to its most recent disclosure 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 about 5.62% of Novadaq Technologies worth $40,270,000 as of its most recent filing with the SEC.

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.