Novadaq Tech. initiated with a Strong Buy at Feltl & Co.
tgt $8.50 (5.81 +0.24)
Feltl & Co. initiates NVDQ with a Strong Buy and price target of $8.50 saying the co's proprietary SPY imaging technology revolutionizes blood flow and perfusion assessment. Their unique technology allows surgeons to visualize blood flow and perfusion in real-time, which greatly enhances the ability to make proper clinical decisions during surgeries. Firm says the company's SPY imaging technology has broad applicability, with current and potential applications in plastic and reconstructive, gastrointestinal, cardiac, cancer, and vascular surgeries (including wound care). They estimate the theoretical addressable market in the US to comprise well over one million procedures per year totaling roughly $1.8 billion in potential consumable sales.