Eagle Ridge Investment Management Lowers stake in Novadaq Technologies (NVDQ)

Novadaq Technologies (NVDQ) : Eagle Ridge Investment Management reduced its stake in Novadaq Technologies by 18.53% during the most recent quarter end. The investment management company now holds a total of 58,051 shares of Novadaq Technologies which is valued at $754,082 after selling 13,200 shares in Novadaq Technologies , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Novadaq Technologies makes up approximately 0.17% of Eagle Ridge Investment Management’s portfolio.

Novadaq Technologies opened for trading at $12.46 and hit $12.95 on the upside on Wednesday, eventually ending the session at $12.49, with a gain of 0.16% or 0.02 points. The heightened volatility saw the trading volume jump to 4,04,681 shares. Company has a market cap of $703 M.

Other Hedge Funds, Including , Cwm reduced its stake in NVDQ by selling 45,164 shares or 12.11% in the most recent quarter. The Hedge Fund company now holds 327,835 shares of NVDQ which is valued at $4,258,577. Novadaq Technologies makes up approx 0.37% of Cwm’s portfolio.Quality Growth Management reduced its stake in NVDQ by selling 2,000 shares or 12.58% in the most recent quarter. The Hedge Fund company now holds 13,900 shares of NVDQ which is valued at $169,580. Novadaq Technologies makes up approx 0.19% of Quality Growth Management’s portfolio. Franklin Street Advisors Inc Nc sold out all of its stake in NVDQ during the most recent quarter. The investment firm sold 23,050 shares of NVDQ which is valued $281,210.

On the company’s financial health, Novadaq Technologies reported $-0.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $-0.17. The company had revenue of $17.70 million for the quarter, compared to analysts expectations of $17.61 million. The company’s revenue was up 51.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.20 EPS.

Novadaq Technologies Inc. develops and commercializes medical imaging and therapeutic devices for use in the operating room. The Company’s imaging platform can be used to visualize blood vessels nerves and the lymphatic system during surgical procedures. The Company generates revenues from the sale of medical devices and consumables capital devices or consumable products the rental of capital devices royalties upfront payments received from partners for exclusive sales and marketing rights and extended warranty services agreements in connection with capital sales. The Company’s SPY imaging products are SPY Elite FIREFLY LUNA PINPOINT CO2 HEART LASER systems and DermACELL Advanced Decellularized Dermis. The SPY Imaging System is United States Food and Drug Administration (FDA) cleared for use in seven surgical specialties including coronary artery bypass cardiovascular plastic reconstructive micro organ transplant and gastrointestinal surgery.

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