Novadaq Technologies Inc (NASDAQ:NVDQ) Short Interest Update

Novadaq Technologies Inc (NASDAQ:NVDQ) (TSE:NDQ) saw a significant decrease in short interest during the month of July. As of July 14th, there was short interest totalling 1,404,365 shares, a decrease of 24.6% from the June 30th total of 1,862,039 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,009,586 shares, the short-interest ratio is currently 1.4 days.

Several hedge funds and other institutional investors have recently modified their holdings of NVDQ. FMR LLC boosted its position in shares of Novadaq Technologies by 18.9% in the fourth quarter. FMR LLC now owns 2,380,983 shares of the medical research company’s stock valued at $16,881,000 after buying an additional 377,983 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Novadaq Technologies by 46.0% in the fourth quarter. Two Sigma Investments LP now owns 78,244 shares of the medical research company’s stock valued at $555,000 after buying an additional 24,652 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Novadaq Technologies during the first quarter valued at $169,000. Granite Investment Partners LLC boosted its position in shares of Novadaq Technologies by 164.0% in the first quarter. Granite Investment Partners LLC now owns 462,676 shares of the medical research company’s stock valued at $3,605,000 after buying an additional 287,392 shares in the last quarter. Finally, Garrison Bradford & Associates Inc. boosted its position in shares of Novadaq Technologies by 12.2% in the first quarter. Garrison Bradford & Associates Inc. now owns 174,700 shares of the medical research company’s stock valued at $1,361,000 after buying an additional 19,000 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

A number of equities analysts recently commented on NVDQ shares. First Analysis lowered Novadaq Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada lowered Novadaq Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $12.00 to $11.75 in a research note on Thursday, July 13th. Canaccord Genuity reissued a “buy” rating and set a $10.00 price target on shares of Novadaq Technologies in a research note on Monday, June 19th. JMP Securities reissued a “market perform” rating on shares of Novadaq Technologies in a research note on Thursday, July 13th. Finally, Scotiabank reissued an “outperform” rating and set a $18.00 price target on shares of Novadaq Technologies in a research note on Thursday, May 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.86.

Shares of Novadaq Technologies (NASDAQ NVDQ) opened at 11.64 on Friday. The stock’s market capitalization is $673.05 million. Novadaq Technologies has a 12 month low of $5.84 and a 12 month high of $12.74. The firm’s 50-day moving average price is $11.71 and its 200-day moving average price is $8.44.

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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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