FY2024 Earnings Forecast for Novanta Issued By William Blair

Novanta Inc. (NASDAQ:NOVT) – Investment analysts at William Blair lowered their FY2024 earnings per share (EPS) estimates for shares of Novanta in a research report issued on Tuesday, November 5th. William Blair analyst B. Drab now anticipates that the technology company will earn $3.03 per share for the year, down from their previous forecast of $3.30. The consensus estimate for Novanta’s current full-year earnings is $3.30 per share. William Blair also issued estimates for Novanta’s Q1 2025 earnings at $0.78 EPS, Q2 2025 earnings at $0.87 EPS, Q3 2025 earnings at $1.00 EPS, Q4 2025 earnings at $1.04 EPS, FY2025 earnings at $3.68 EPS and FY2026 earnings at $4.31 EPS.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $244.40 million for the quarter, compared to the consensus estimate of $242.33 million. Novanta had a net margin of 6.91% and a return on equity of 15.77%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share.

Separately, Robert W. Baird dropped their target price on Novanta from $175.00 to $169.00 and set a “neutral” rating on the stock in a research report on Wednesday.

Novanta Stock Up 0.6 %

Novanta stock opened at $182.65 on Thursday. The business’s 50-day simple moving average is $174.21 and its two-hundred day simple moving average is $170.06. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77. The company has a market cap of $6.56 billion, a PE ratio of 105.58 and a beta of 1.29. Novanta has a fifty-two week low of $120.19 and a fifty-two week high of $187.12.

Insider Activity at Novanta

In related news, CFO Robert Buckley sold 1,111 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.45, for a total transaction of $200,479.95. Following the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $21,729,608.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 9,150 shares of company stock worth $1,608,936 over the last three months. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Novanta

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Novanta by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after acquiring an additional 45,937 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Novanta by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company’s stock worth $350,836,000 after purchasing an additional 79,718 shares during the period. Conestoga Capital Advisors LLC boosted its position in Novanta by 1.6% during the third quarter. Conestoga Capital Advisors LLC now owns 1,350,651 shares of the technology company’s stock worth $241,658,000 after purchasing an additional 20,825 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Novanta by 0.4% in the second quarter. William Blair Investment Management LLC now owns 960,152 shares of the technology company’s stock valued at $156,610,000 after purchasing an additional 4,079 shares during the period. Finally, Geneva Capital Management LLC increased its position in shares of Novanta by 1.1% in the third quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company’s stock valued at $139,566,000 after buying an additional 8,574 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

About Novanta

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.