Novadaq partnering strategy hits marketing milestone

Novadaq Technologies (TSX:NDQ), a maker of real-time fluorescence imaging products for the operating room, reached a significant milestone earlier this month when it named MAQUET Cardiovascular as the exclusive distributor of its CO2 Heart Laser system in the U.S. “We have now completed our strategic agenda of partnering each one of our first four surgical [...]

JMP starts Novadaq at market outperform

JMP Securities has initiated coverage of Novadaq Technologies (TSX:NDQ) with an “outperform” rating and 12-month price target of $7. The stock closed at $4.72 on Monday SPY is a breakthrough imaging system that allows surgeons to visualize blood flow and perfusion in real-time. The company has established partnerships with LifeCell and Intuitive Surgical, which “in [...]

Novadaq shipments exceed expectations

Combined third quarter shipments of fluorescence imaging systems by Novadaq Technologies (TSX:NDQ) exceeded expectations by reaching a total of 165, CEO Dr. Arun Menawat said in the third quarter report. “Since the launch of SPY Elite in February and the da Vinci fluorescence imaging system in July, the primary sales focus for our two partners, [...]

Novadaq ships 165 fluorescence imaging units in Q3

Novadaq Technologies (TSX:NDQ) shipped a total of 165 fluorescence imaging systems during the third quarter, compared with 92 shipments in the second quarter of 2011, and topping management’s earlier estimate of 80 systems discussed during the company’s second quarter conference call on Aug. 4. “We are delighted with the continued momentum of SPY Imaging technology [...]

Novadaq SPY deliveries to triple in second quarter

Novadaq Technologies (TSX:NDQ) expects to deliver about 70 of its SPY surgical imaging systems in the current second quarter, compared with 20 installations by its two partners in the first three months of 2011. The SPY fluorescence imaging system allows surgeons to intra-operatively capture, view and archive high quality image sequences of blood flow in [...]

Dundee selects Novadaq as top pick

Calling Novadaq Technologies (TSX:NDQ) its “top pick” in the healthcare sector, Dundee Securities analyst David Martin figures the medical devices company can “at least triple revenues by 2012.” He rates the stock a “buy, speculative risk,” with a 12-month price target of $7.10. The stock closed at $3.50 on Friday, with a 12-month trading range [...]

Riding the Next Wave

No, we’re not talking about the north coast of Maui but rather a new research platform from long-time biotech analyst David Martin of Dundee Securities. “If I’m going to recommend that investors own a basket of biotech stocks, it makes sense that I ought to initiate on a basket of stocks rather than make one-off [...]

Novadaq gets second milestone from Intuitive

Novadaq Technologies (TSX:NDQ) has received a $1 million payment from Intuitive Surgical (NASDAQ:ISRG)  for achieving the second predefined milestone of their 2009 licence and development agreement. Under the agreement, Novadaq and Intuitive are working to integrate Novadaq’s proprietary SPY imaging technology into the 3D high definition imaging capabilities of Intuitive’s da Vinci surgical robotic system [...]