Wedbush Comments on Novadaq Technologies Inc’s Q4 2016 Earnings (NVDQ)
Novadaq Technologies Inc (NASDAQ:NVDQ) (TSE:NDQ) – Investment analysts at Wedbush decreased their Q4 2016 earnings per share estimates for Novadaq Technologies in a report issued on Wednesday. Wedbush analyst Levy. T now forecasts that the firm will earn ($0.19) per share for the quarter, down from their previous estimate of ($0.16). Wedbush currently has a “Outperform” rating and a $11.00 target price on the stock. Wedbush also issued estimates for Novadaq Technologies’ FY2017 earnings at ($0.64) EPS, FY2018 earnings at ($0.44) EPS and FY2019 earnings at ($0.15) EPS.
Novadaq Technologies (NASDAQ:NVDQ) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by $0.03. The company earned $22.16 million during the quarter, compared to analysts’ expectations of $22.21 million. Novadaq Technologies had a negative return on equity of 31.34% and a negative net margin of 55.26%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS.
NVDQ has been the subject of several other research reports. Noble Financial cut shares of Novadaq Technologies from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 3rd. William Blair cut shares of Novadaq Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday. Canaccord Genuity reissued a “buy” rating and set a $10.00 target price (down previously from $15.00) on shares of Novadaq Technologies in a report on Thursday. RBC Capital Markets set a $13.00 target price on shares of Novadaq Technologies and gave the stock an “outperform” rating in a report on Wednesday. Finally, BTIG Research reissued a “hold” rating on shares of Novadaq Technologies in a report on Wednesday, November 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Novadaq Technologies presently has a consensus rating of “Buy” and a consensus target price of $11.50.
Shares of Novadaq Technologies (NASDAQ:NVDQ) opened at 6.53 on Friday. Novadaq Technologies has a 52 week low of $6.00 and a 52 week high of $14.24. The stock’s market cap is $375.08 million. The firm has a 50-day moving average of $7.60 and a 200 day moving average of $9.88.
A number of hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its stake in Novadaq Technologies by 17.6% in the third quarter. D.A. Davidson & CO. now owns 10,019 shares of the company’s stock valued at $114,000 after buying an additional 1,500 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Novadaq Technologies by 46.4% in the third quarter. PNC Financial Services Group Inc. now owns 14,338 shares of the company’s stock valued at $165,000 after buying an additional 4,544 shares in the last quarter. Trellus Management Company LLC purchased a new stake in Novadaq Technologies during the third quarter valued at approximately $191,000. US Bancorp DE raised its stake in Novadaq Technologies by 5.9% in the second quarter. US Bancorp DE now owns 20,725 shares of the company’s stock valued at $203,000 after buying an additional 1,161 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Novadaq Technologies during the third quarter valued at approximately $240,000. Institutional investors own 89.62% of the company’s stock.
Novadaq Technologies Company Profile
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.
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