Novadaq shares jump on positive feedback of imaging technology
(Reuters) - Medical imaging systems maker Novadaq Technologies Inc (NDQ.TO) (NVDQ.O) said it received positive feedback from the users of one of its imaging technologies, sending its shares to a six-year high on the Toronto Stock Exchange.
Novadaq's SPY fluorescence imaging technology, used in complex surgical procedures, was endorsed by six surgeons on the company's investor day, it said in a statement on Tuesday.
The Canadian company's shares rose 9 percent to C$10.07 on the Toronto Stock Exchange in afternoon trading.
ThinkEquity LLC said the endorsements reaffirmed its belief that SPY technology could become the standard of care. The brokerage raised its price target on the company's U.S.-listed stock to $13 from $11.
The stock was up 8 percent at $10.21 on the Nasdaq.
(Reporting by Shounak Dasgupta in Bangalore; Editing by Don Sebastian)
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