Garrison Bradford Associates Inc Lowers stake in Novadaq Technologies (NVDQ)

Novadaq Technologies (NVDQ) : Garrison Bradford Associates Inc reduced its stake in Novadaq Technologies by 4.47% during the most recent quarter end. The investment management company now holds a total of 181,700 shares of Novadaq Technologies which is valued at $1,911,484 after selling 8,500 shares in Novadaq Technologies , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Novadaq Technologies makes up approximately 1.80% of Garrison Bradford Associates Inc’s portfolio.

Other Hedge Funds, Including , Huntington National Bank reduced its stake in NVDQ by selling 2,173 shares or 49.61% in the most recent quarter. The Hedge Fund company now holds 2,207 shares of NVDQ which is valued at $19,488.Eagle Ridge Investment Management reduced its stake in NVDQ by selling 22,640 shares or 39.0% in the most recent quarter. The Hedge Fund company now holds 35,411 shares of NVDQ which is valued at $317,991. Novadaq Technologies makes up approx 0.07% of Eagle Ridge Investment Management’s portfolio. Cutler Group Lp added NVDQ to its portfolio by purchasing 3,546 company shares during the most recent quarter which is valued at $32,127.

Novadaq Technologies closed down -0.04 points or -0.37% at $10.75 with 1,27,908 shares getting traded on Monday. Post opening the session at $10.81, the shares hit an intraday low of $10.49 and an intraday high of $10.93 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Novadaq Technologies reported $-0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.15 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.14. The company had revenue of $20.12 million for the quarter, compared to analysts expectations of $19.97 million. The company’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.

Many Wall Street Analysts have commented on Novadaq Technologies. Novadaq Technologies was Upgraded by Feltl & Co. to ” Strong Buy” on Jul 28, 2016.

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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