Investors Buy Novadaq Technologies Inc (NVDQ) on Weakness
Traders bought shares of Novadaq Technologies Inc (NASDAQ:NVDQ) (TSE:NDQ) on weakness during trading on Monday. $12.72 million flowed into the stock on the tick-up and $1.37 million flowed out of the stock on the tick-down, for a money net flow of $11.35 million into the stock. Of all stocks tracked, Novadaq Technologies had the 28th highest net in-flow for the day. Novadaq Technologies traded down ($0.05) for the day and closed at $11.59
NVDQ has been the subject of several research analyst reports. Scotiabank reaffirmed an “outperform” rating and set a $18.00 target price on shares of Novadaq Technologies in a research note on Wednesday, April 26th. Zacks Investment Research raised Novadaq Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $10.00 target price on shares of Novadaq Technologies in a research note on Friday, June 2nd. Northland Securities reaffirmed a “hold” rating and set a $11.75 target price on shares of Novadaq Technologies in a research note on Monday, June 19th. Finally, Wedbush downgraded Novadaq Technologies from an “outperform” rating to a “neutral” rating in a research note on Monday, June 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. Novadaq Technologies presently has a consensus rating of “Hold” and an average price target of $11.86.
The stock’s market capitalization is $670.16 million. The company’s 50-day moving average is $11.71 and its 200-day moving average is $8.49.
A number of institutional investors have recently modified their holdings of the company. Gamco Investors INC. ET AL purchased a new position in shares of Novadaq Technologies during the second quarter valued at about $145,000. Virtu Financial LLC purchased a new position in shares of Novadaq Technologies during the second quarter valued at about $157,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Novadaq Technologies during the first quarter valued at about $169,000. Envestnet Asset Management Inc. boosted its position in shares of Novadaq Technologies by 12.9% in the first quarter. Envestnet Asset Management Inc. now owns 25,374 shares of the medical research company’s stock valued at $197,000 after buying an additional 2,898 shares in the last quarter. Finally, Wolverine Trading LLC purchased a new position in shares of Novadaq Technologies during the second quarter valued at about $254,000. 86.47% of the stock is owned by hedge funds and other institutional investors.
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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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