Clearbridge Investments LLC boosted its stake in Novadaq Technologies Inc (NASDAQ:NVDQ) (TSE:NDQ) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,554,843 shares of the medical research company’s stock after buying an additional 9,371 shares during the period. Clearbridge Investments LLC owned approximately 4.42% of Novadaq Technologies worth $19,902,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Boothbay Fund Management LLC bought a new position in Novadaq Technologies during the fourth quarter worth $118,000. Quantitative Systematic Strategies LLC bought a new position in Novadaq Technologies during the first quarter worth $169,000. Envestnet Asset Management Inc. raised its position in 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 worth $197,000 after buying an additional 2,898 shares during the period. Wrapmanager Inc. raised its position in Novadaq Technologies by 33.7% in the first quarter. Wrapmanager Inc. now owns 42,984 shares of the medical research company’s stock worth $335,000 after buying an additional 10,845 shares during the period. Finally, US Bancorp DE raised its position in Novadaq Technologies by 0.8% in the first quarter. US Bancorp DE now owns 46,899 shares of the medical research company’s stock worth $365,000 after buying an additional 362 shares during the period. 88.21% of the stock is owned by hedge funds and other institutional investors.
Novadaq Technologies Inc (NVDQ) traded up 0.26% during trading on Friday, hitting $11.71. The stock had a trading volume of 2,323,444 shares. The company’s 50 day moving average is $10.80 and its 200 day moving average is $8.08. Novadaq Technologies Inc has a 52-week low of $5.84 and a 52-week high of $12.74. The firm’s market cap is $676.86 million.
Novadaq Technologies (NASDAQ:NVDQ) (TSE:NDQ) last issued its quarterly earnings results on Wednesday, May 3rd. The medical research company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.03. The business had revenue of $21.08 million for the quarter, compared to analyst estimates of $20.12 million. Novadaq Technologies had a negative return on equity of 49.93% and a negative net margin of 71.97%. Equities research analysts forecast that Novadaq Technologies Inc will post ($0.80) earnings per share for the current year.
A number of research analysts recently weighed in on NVDQ shares. Scotiabank reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Novadaq Technologies in a research report on Wednesday, April 26th. Zacks Investment Research raised Novadaq Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $10.00 price objective on shares of Novadaq Technologies in a research report on Friday, June 2nd. Northland Securities reaffirmed a “hold” rating and set a $11.75 price objective on shares of Novadaq Technologies in a research report on Monday, June 19th. Finally, Wedbush lowered Novadaq Technologies from an “outperform” rating to a “neutral” rating in a research report on Monday, June 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $11.86.
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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