Gagnon Advisors adds Novadaq Technologies (NVDQ) to its portfolio

Novadaq Technologies (NVDQ) : Gagnon Advisors added new position in Novadaq Technologies during the most recent quarter end. The investment management firm now holds 316,541 shares of Novadaq Technologies which is valued at $3,526,267 , the company said in a statement filed on Aug 10, 2016 with the SEC.Novadaq Technologies makes up approximately 2.80% of Gagnon Advisors’s portfolio.

Other Hedge Funds, Including , Keybank National Associationoh boosted its stake in NVDQ in the latest quarter, The investment management firm added 12,371 additional shares and now holds a total of 29,291 shares of Novadaq Technologies which is valued at $326,302.Cwm reduced its stake in NVDQ by selling 10,013 shares or 3.05% in the most recent quarter. The Hedge Fund company now holds 317,822 shares of NVDQ which is valued at $2,854,042. Novadaq Technologies makes up approx 0.20% of Cwm’s portfolio.

Novadaq Technologies closed down -0.23 points or -1.96% at $11.51 with 1,64,728 shares getting traded on Friday. Post opening the session at $11.63, the shares hit an intraday low of $11.32 and an intraday high of $11.95 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Novadaq Technologies reported $-0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.15 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.14. The company had revenue of $20.12 million for the quarter, compared to analysts expectations of $19.97 million. The company’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.

Many Wall Street Analysts have commented on Novadaq Technologies. Novadaq Technologies was Upgraded by Feltl & Co. to ” Strong Buy” on Jul 28, 2016.

Novadaq Technologies Inc. develops and commercializes medical imaging and therapeutic devices for use in the operating room. The Company’s imaging platform can be used to visualize blood vessels nerves and the lymphatic system during surgical procedures. The Company generates revenues from the sale of medical devices and consumables capital devices or consumable products the rental of capital devices royalties upfront payments received from partners for exclusive sales and marketing rights and extended warranty services agreements in connection with capital sales. The Company’s SPY imaging products are SPY Elite FIREFLY LUNA PINPOINT CO2 HEART LASER systems and DermACELL Advanced Decellularized Dermis. The SPY Imaging System is United States Food and Drug Administration (FDA) cleared for use in seven surgical specialties including coronary artery bypass cardiovascular plastic reconstructive micro organ transplant and gastrointestinal surgery.

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