Novadaq Technologies Inc (NASDAQ:NVDQ) (TSE:NDQ) was the target of a large drop in short interest in July. As of July 14th, there was short interest totalling 1,404,365 shares, a drop of 24.6% from the June 30th total of 1,862,039 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily volume of 1,009,586 shares, the short-interest ratio is currently 1.4 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDQ. Quantitative Systematic Strategies LLC bought a new position in Novadaq Technologies during the first quarter valued at $169,000. Granite Investment Partners LLC raised its position in Novadaq Technologies by 164.0% in the first quarter. Granite Investment Partners LLC now owns 462,676 shares of the medical research company’s stock valued at $3,605,000 after buying an additional 287,392 shares in the last quarter. Two Sigma Investments LP raised its position in Novadaq Technologies by 46.0% in the fourth quarter. Two Sigma Investments LP now owns 78,244 shares of the medical research company’s stock valued at $555,000 after buying an additional 24,652 shares in the last quarter. OLD National Bancorp IN raised its position in Novadaq Technologies by 22.3% in the first quarter. OLD National Bancorp IN now owns 62,266 shares of the medical research company’s stock valued at $485,000 after buying an additional 11,360 shares in the last quarter. Finally, OppenheimerFunds Inc. bought a new position in Novadaq Technologies during the first quarter valued at $13,900,000. Hedge funds and other institutional investors own 88.21% of the company’s stock.
Novadaq Technologies (NASDAQ:NVDQ) opened at 11.71 on Friday. The firm’s market cap is $676.86 million. Novadaq Technologies has a one year low of $5.84 and a one year high of $12.74. The firm has a 50 day moving average of $10.80 and a 200-day moving average of $8.08.
Novadaq Technologies (NASDAQ:NVDQ) (TSE:NDQ) last released its quarterly earnings data on Wednesday, May 3rd. The medical research company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. The company had revenue of $21.08 million during the quarter, compared to analyst estimates of $20.12 million. Novadaq Technologies had a negative net margin of 71.97% and a negative return on equity of 49.93%. Equities research analysts forecast that Novadaq Technologies will post ($0.80) EPS for the current fiscal year.
A number of research analysts have recently weighed in on NVDQ shares. Scotiabank reissued an “outperform” rating and set a $18.00 price objective on shares of Novadaq Technologies in a research note on Wednesday, April 26th. Zacks Investment Research raised shares of Novadaq Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Stifel Nicolaus reissued a “buy” rating and set a $10.00 price objective on shares of Novadaq Technologies in a research note on Friday, June 2nd. Northland Securities reissued a “hold” rating and set a $11.75 price objective on shares of Novadaq Technologies in a research note on Monday, June 19th. Finally, Wedbush cut shares of Novadaq Technologies from an “outperform” rating to a “neutral” rating in a research note on Monday, June 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. Novadaq Technologies presently has a consensus rating of “Hold” and a consensus price target of $11.86.
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About Novadaq Technologies
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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