Novadaq Technologies (NVDQ) Falls: Stock Plunges 11.9%

Zacks

Novadaq Technologies Inc. (NVDQ) saw a big move last session, as the company’s shares fell by nearly 12% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the most recent trend for NVDQ, as the stock is now up around 2% since March 11.

This medical instruments company has seen a flat track record when it comes to current year estimate revisions over the past few weeks (no increase, no decrease), and the consensus for hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.

Novadaq Technologies currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.

Investors interested in the medical instruments industry may consider better-ranked stocks like Cynosure, Inc. (CYNO), Delcath Systems, Inc. (DCTH) and Syneron Medical Ltd. (ELOS). All these stocks carry a Zacks Rank #1 (Strong Buy).

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