BUZZ-Novadaq Technologies Inc: Bigger-than-expected loss, price targets cut

Wed Apr 29, 2015 12:07pm EDT
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** Canadian medical imaging product maker's U.S.-listed shares down 11.7 pct at $11.01; Toronto-listed shares down 10.2 pct at C$13.30

** Company posted a bigger-than-expected Q1 loss of $20/share on Tuesday as revenue fell and costs rose

** Q1 revenue fell 14 pct to $11.7 mln

** Analysts on average expected a loss of 9 cents per share and revenue $13.1 mln, according to Thomson Reuters I/B/E/S

** Canaccord Genuity cuts price target to $15.50 from $19, RBC Capital Markets to $16 from $17, Stifel Nicolaus & Co to $16 from $19

** Seven of the 9 analysts covering the stock have a "buy" or higher rating, one rates it at "hold" and one a "sell"; median price is $17

** Up to Tuesday's close, stock had fallen 25 pct this year