Novanta (NOVT) to Release Quarterly Earnings on Tuesday

Novanta (NASDAQ:NOVT) is set to release its earnings data before the market opens on Tuesday, November 5th. Analysts expect Novanta to post earnings of $0.86 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. The firm had revenue of $235.86 million during the quarter, compared to analyst estimates of $233.63 million. Novanta had a net margin of 6.91% and a return on equity of 15.77%. Novanta’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. On average, analysts expect Novanta to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Novanta Stock Up 2.3 %

Shares of NOVT opened at $174.22 on Monday. Novanta has a fifty-two week low of $111.20 and a fifty-two week high of $187.12. The company’s fifty day moving average is $174.72 and its two-hundred day moving average is $169.41. The firm has a market cap of $6.25 billion, a PE ratio of 100.71 and a beta of 1.29. The company has a quick ratio of 1.73, a current ratio of 2.77 and a debt-to-equity ratio of 0.68.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted their target price on Novanta from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th.

Insider Transactions at Novanta

In related news, CFO Robert Buckley sold 4,379 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $176.20, for a total value of $771,579.80. Following the transaction, the chief financial officer now owns 120,419 shares in the company, valued at approximately $21,217,827.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 9,150 shares of company stock worth $1,608,936. 1.20% of the stock is currently owned by company insiders.

Novanta Company Profile

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.