Novadaq Receives a Buy from JMP Securities

By Jason Carr

JMP Securities analyst John Gillings reiterated a Buy rating on Novadaq (NASDAQ: NVDQ) today. The company’s shares opened today at $7.92, close to its 52-week low of $7.20.

According to TipRanks.com, Gillings is ranked #3462 out of 4243 analysts.

Currently, the analyst consensus on Novadaq is Strong Buy and the average price target is $17, representing an 114.6% upside.

In a report issued on November 16, First Analysis also maintained a Buy rating on the stock.

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.