Novadaq selling $50.3-million of common shares

Tweet Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) is selling $50.3-million of common shares at a price of $12.90 apiece through an underwriting agreement with Canaccord Genuity. The offering is being conducted in the U.S. under the company’s shelf registration statement filed with the SEC and in Canada under a final short-form base shelf prospectus filed with the [...]

Novadaq Q1 revenue jumps 53%

Tweet Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) revenue in the first quarter of 2013 totaled $7.3-million, an increase of 53%, compared with the first quarter of 2012. Revenue growth was driven primarily by continued adoption of SPY Elite procedures and higher FIREFLY system sales to end users. First quarter gross profit of $4.5-million (62% margin), represents an [...]

Analysts: Early Novadaq PILLAR II data delivers

Tweet In a new research report, analyst Jason Mills of Canaccord Genuity discussed initial data presented at the SAGES conference Thursday evening by Dr. Michael Stamos of the University of California at Irvine from the PILLAR II study, which is evaluating the ability of Novadaq Technologies’ (NASDAQ:NVDQ; TSX:NDQ) PINPOINT endoscopic fluorescence imaging system to assess [...]

Stifel starts Novadaq at buy

Tweet Stifel Nicolaus has initiated coverage of Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) with a “buy” rating and $13 price target. The stock closed at $10.32 on Tuesday. “In a healthcare environment where hospital budgets are being increasingly pressured and reimbursement will inevitably become aligned with outcomes, Novadaq’s technology is uniquely positioned to lower procedure complication rates, [...]

Novadaq moves to accelerate commercial launch of LUNA

Tweet Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) plans to accelerate the launch of its LUNA fluorescence imaging system in diagnostic wound care applications after the company and Kinetic Concepts terminated agreements related to the development, and sales and marketing of LUNA. The termination is considered amicable – primarily relating to changing priorities – and neither company is [...]

Bryon Capital ups Novadaq to buy

Tweet Byron Capital Markets has upgraded Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) to “buy” from “hold” and raised its price target to $15 from $12, after the medical imaging company reported strong fourth quarter results this morning. The stock was changing hands at $9.27 Thursday afternoon. “We maintain our positive view on pace of SPY adoption in [...]

Novadaq Q4 beats street on revenue and earnings

Tweet Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) has reported total revenue for the fourth quarter and full year 2012 of $6.8-million and $23-million, respectively, representing increases of 37% and 50%, compared with the same periods in 2011. Net earnings of $3.1-million or 8 cents a share for the fourth quarter, compared with a $2-million loss in the [...]

Novadaq sells Pinpoint to N.Y. hospital

Tweet Maimonides Medical Center in Brooklyn, N.Y., is the first U.S. hospital to purchase one of Novadaq Technologies’ (NASDAQ:NVDQ; TSX:NDQ) Pinpoint endoscopic fluorescence imaging systems. Maimonides also has purchased a set of endoscopes and signed long-term contracts for service and supply of disposable kits, which are required for each Pinpoint procedure.Over the past year, Maimonides [...]

Canaccord confident in Novadaq technology & IP

Tweet Responding to a recent stock slide by Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ), Canaccord Genuity says that based on its due diligence, “we strongly believe the company possesses robust, clinically relevant, proprietary technology that is secured by strong IP.” Analyst Jason Mills reiterated his “buy” rating and $15 price target and recommends investors “buy the weakness [...]

Novadaq Q3 revenue jumps 39%

Tweet Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) has reported third quarter revenue of $6-million, up 39% from a year earlier, reflecting continued adoption of SPY Elite and FIREFLY procedures and higher sales of these systems to end users. Third quarter recurring revenue for Novadaq’s SPY businesses increased by 99% year-over-year to $2.9-million, and increased 16% from $2.5-million [...]

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