Novadaq (NVDQ)

[biocqr]

Needham & Company reiterates a 'Buy' on Novadaq Technologies (NASDAQ: NVDQ) price target of $9.00 (from $8.00).

Analyst, Dalton Chandler, said, "NVDQ’s capital equipment sales far exceeded our estimates and we think this is a very positive indicator for future revenue
and profits. With the KCI distribution deal set to launch next year, NVDQ’s direct sale of PINPOINT, and likely additional distribution deals, we think there is potential for accelerated growth, although we haven’t modeled this. In our view NVDQ’s sales to date have barely scratched the surface of their potential."

FY12 EPS estimate lowered from (0.15) to (0.23) and FY13 from $0.15 to $0.07.

For an analyst ratings summary and ratings history on Novadaq Technologies click here. For more ratings news on Novadaq Technologies click here.

Shares of Novadaq Technologies closed at $8.00 yesterday, with a 52 week range of $5.27-$8.37.