Stock Analyst Update on Novadaq Technologies Inc (NGM:NVDQ)

Novadaq Technologies Inc (NGM:NVDQ) (TREND ANALYSIS) recent pullback a buying opportunity, says Piper Jaffray. Piper Jaffray recommends using the pullback in shares of Novadaq after an abstract at ASCRS indicated no benefit to anastomotic leaks for patients where the company’s technology was used as a buying opportunity. Piper says the abstract’s lead author, Dr. Mark Welton, indicated to the firm that Novadaq’s SPY technology caught a “meaningful number” of leaks and that the non-SPY arm leak rate was abnormally low compared to typical results, suggesting study error. Piper keeps an Overweight rating on the stock with a $19 price target.

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Novadaq Technologies Inc (NGM:NVDQ) stock is currently trading 46.49% below its 52-week-high, 0.83% above its 52-week-low. The 1-year stock price history is in the range of $9.68 – $18.24. Novadaq Technologies Inc (NVDQ) has a price to book ratio of 3.58 versus Healthcare sector average of 26.53. NVDQ stock price has underperformed the S&P 500 by 44.4%. The Diagnostics & Research company is currently valued at $0.55 billion and its share price closed the last trading session at $9.76. The stock has a 50-day moving average of $11.06 and a 200-day moving average of $14.09.

Novadaq Technologies Inc (NVDQ) current short interest stands at 4.89 million shares. It has increased by 11% from the same period of last month. Around 10% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.33 million shares, the number of days required to cover the short positions stand at 14.6 days.

NVDQ reported last quarter earnings on April 28. The Diagnostics & Research company announced earnings per share of $-0.61 against a consensus Street estimate of $-0.09, missing estimate by $0.52. This corresponds to a decrease of $0.06 compared to the same quarter of the previous fiscal year.

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There are currently twelve analysts that cover Novadaq Technologies Inc stock. Of those twelve, ten have a Buy rating, one has a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $17.88.

A recent analyst activity consisted of Canaccord Genuity reiterating their Buy stance on April 29. Canaccord Genuity decreased price target from $19 to $15.5. This corresponds to a 58.81% upside from the last closing price. On the date of report, the stock closed at $10.37.

Company profile

Novadaq Technologies Inc. develops, manufactures, and commercializes fluorescence imaging technology products and therapeutic devices for surgeons in the operating room and other clinical settings primarily in the United States and Japan. The company’s proprietary imaging platform is used to visualize blood vessels, nerves, and the lymphatic system during surgical procedures. It provides SPY imaging systems, which allow surgeons to capture, review, print, and archive image sequences of blood flow in vessels and micro-vessels, tissues, and organ perfusion in real-time during the course of performing various surgical procedures; SPY-Q analysis toolkit, a post-processing software that allows surgeons to apply objective analysis tools to SPY images; and SPY Elite, which allows gastrointestinal surgeons to visualize and objectively analyze perfusion in the upper and lower gastrointestinal tract. The company also offers PINPOINT endoscopic fluorescence imaging systems that combines fluorescence imaging capabilities of SPY imaging with the HD visible light imaging capabilities of a traditional endoscopic imaging system; FireFly Systems for robotic surgery; and CO2 heart laser systems, including CO2 heart laser mobile console and CO2 heart laser disposable hand pieces for transmyocardial revascularization. Novadaq Technologies Inc. was incorporated in 2000 and is headquartered in Mississauga, Canada.

Stock Analyst Update on Novadaq Technologies Inc (NGM:NVDQ) was last modified: June 5th, 2015 by Kelly Rhodes