Stryker (NYSE:SYK) has agreed to acquire Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) for $11.75 a share, implying a total equity value of approximately $701-million.Read More
Stereotaxis (NASDAQ:STXS) has signed definitive agreements for multiple transactions that significantly strengthen its financial position and help accelerate and enhance its strategic market growth initiatives.
The transactions include an equity financing of $24-million, satisfaction in full of outstanding debt to Healthcare Royalty Partners for a payment of $13-million, and the addition to the board of three new directors with significant operational and financial experience in the medical device industry.Read More
Scotiabank initiated coverage of Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) with a “sector outperform” rating and a one-year price target of $18. The stock closed at $11.43 on Tuesday.
Analyst Alan Ridgeway writes that at a multiple of eight times estimated 2017 sales, “Novadaq would trade at a premium to peers, which is justified, in our opinion, because we believe it will break even in roughly 12 months and has the potential to grow more than 30% annually through 2020.”Read More
Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) said Karen Licitra will be joining the company’s board of directors.
Ms. Licitra has a track record of accomplishments in sales, marketing, commercial and general management in the global healthcare industry. In her 30-plus-year career with Johnson & Johnson (NYSE:JNJ), she most recently served as corporate VP worldwide government affairs and policy, before retiring in August 2015.Read More
Profound Medical (TSX-V:PRN) appointed Arun Menawat as its new CEO. Steven Plymale, the company’s current CEO, will transition to President and COO.
Dr. Menawat has been a member of Profound’s board since October 2014. Most recently, he was president and CEO of Novadaq Technologies, which pioneered the field of fluorescence imaging in the operating room.Read More
Feltl & Co. upgraded Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) to “strong buy” from “buy” after the company posted second quarter revenue ahead of expectations yesterday on the strength of its direct sales business.
Analyst Ben Haynor maintained his price target of $15 on Novadaq. The stock was quoted $10.13, up $1.30, at mid-day Thursday.Read More
Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) reported revenue of $20.1-million in the second quarter, an increase of 34% from $15.1-million a year ago.
Total direct sales in the latest quarter increased by $4.4-million, or 37%, and total partnered/international sales rose by $600,000, or 21%, compared with the same period last year.Read More
Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) has reported first quarter revenue of $17.7-million, up 52%, from $11.7-million a year ago.
Total direct sales in the quarter rose by $6.1-million, or 71%, and total partnered/international sales declined by $100,000, compared with the year earlier period.Read More
Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) has reported revenue of $20-million for the final quarter of 2015, up 54% from $13-million in the year earlier quarter, and up 18% from the third quarter of 2015.
Product sales increased by $9.3-million, or 95%, primarily due to an 89% increase in capital sales and a 107% increase in recurring revenue.Read More
Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) has released preliminary unaudited revenue for the fourth quarter of 2015 of approximately $20-million, reflecting increases of about 54% from $13-million in the 2014 fourth quarter and 18% sequentially over $17-million in the third quarter last year.
For all of 2015, the company anticipates total revenues to be approximately $63.8-million, representing total year-over-year revenue growth of about 37%.Read More
JMP Securities has resumed coverage of Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) with a “market outperform” rating and $16 price target. The stock closed at $13.50 on Tuesday.
“Novadaq was once highly regarded within the small cap MedTech world, but its shares were driven down from historical highs by what we believe were overblown concerns around competition and a challenging transition to direct sales of SPY Elite, which is now in the company’s rearview mirror,” writes analyst John Gillings.Read More