Novadaq Receives a Hold from BTIG

By Austin Angelo

BTIG analyst Sean Lavin reiterated a Hold rating on Novadaq (NASDAQ: NVDQ) on November 14. The company’s shares closed yesterday at $8.16, close to its 52-week low of $8.12.

According to TipRanks.com, Lavin is a top 100 analyst with an average return of 13.5% and a 64.4% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Trivascular Technologies, and Boston Scientific Corp.

Novadaq has an analyst consensus of Strong Buy, with a price target consensus of $17.

Based on Novadaq ‘s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $22.16 million and GAAP net loss of $10.9 million. In comparison, last year the company earned revenue of $17.04 million and had a GAAP net loss of $3.71 million.

Novadaq Technologies, Inc. develops, manufactures and markets real-time fluorescence imaging products. Its products are designed for use by surgeons in the operating room and other clinical settings where open, minimally invasive or interventional surgical procedures are performed. The company’s products include SPY imaging system, pinpoint endoscopic fluorescence imaging system, firefly system for robotic surgery and CO2 heart laser system. Its SPY Imaging core technology platform provides clinically relevant anatomic and physiologic images during a wide variety of complex surgical procedures without exposing the patient to radiation. Novadaq Technologies was founded by Rick Mangat on April 14, 2000 and is headquartered in Mississauga, Canada.