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
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) 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