Novadaq was Downgraded to a Hold Rating at Craig-Hallum

By Ryan Adsit

Craig-Hallum analyst Charles Haff downgraded Novadaq (NASDAQ: NVDQ) to Hold today and set a price target of $11.80. The company’s shares opened today at $11.69, close to its 52-week high of $12.74.

According to TipRanks.com, Haff is a 3-star analyst with an average return of 8.0% and a 53.8% success rate. Haff covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, Cas Medical Systems, and Kindred Biosciences.

Currently, the analyst consensus on Novadaq is Moderate Buy and the average price target is $11.39, representing a -2.6% downside.

In a report released today, BTIG also reiterated a Hold rating on the stock.

The company has a one year high of $12.74 and a one year low of $5.84. Currently, Novadaq has an average volume of 252.3K.

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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.