News articles about Novanta (NASDAQ:NOVT) have trended somewhat positive recently, according to Accern. The research firm identifies negative and positive news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Novanta earned a daily sentiment score of 0.21 on Accern’s scale. Accern also gave news stories about the technology company an impact score of 47.2763531763723 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
NOVT opened at $74.65 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.18 and a quick ratio of 2.14. Novanta has a 52 week low of $37.05 and a 52 week high of $75.10. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 46.66 and a beta of 1.50.
Novanta (NASDAQ:NOVT) last released its earnings results on Wednesday, August 8th. The technology company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Novanta had a net margin of 5.14% and a return on equity of 19.99%. The firm had revenue of $150.40 million during the quarter, compared to analyst estimates of $147.26 million. During the same quarter in the previous year, the business earned $0.41 EPS. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. equities analysts expect that Novanta will post 2 EPS for the current year.
A number of analysts have commented on NOVT shares. BidaskClub lowered shares of Novanta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised shares of Novanta from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Friday, May 11th. Finally, Robert W. Baird lowered shares of Novanta from an “outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a report on Wednesday, May 9th.
In other news, VP Peter L. Chang sold 3,680 shares of Novanta stock in a transaction on Friday, August 17th. The shares were sold at an average price of $70.63, for a total transaction of $259,918.40. Following the transaction, the vice president now directly owns 36,132 shares of the company’s stock, valued at $2,552,003.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.70% of the company’s stock.
Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
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