Equities research analysts expect Novanta Inc (NASDAQ:NOVT) to post earnings per share of $0.52 for the current quarter, Zacks reports. Two analysts have made estimates for Novanta’s earnings. Novanta reported earnings per share of $0.45 in the same quarter last year, which suggests a positive year-over-year growth rate of 15.6%. The company is expected to announce its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Novanta will report full-year earnings of $2.00 per share for the current year, with EPS estimates ranging from $1.99 to $2.00. For the next year, analysts forecast that the business will report earnings of $2.21 per share, with EPS estimates ranging from $2.17 to $2.25. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Novanta.
Novanta (NASDAQ:NOVT) last released its earnings results on Wednesday, August 8th. The technology company reported $0.51 earnings per share (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 company had revenue of $150.40 million during the quarter, compared to the consensus estimate of $147.26 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 26.3% compared to the same quarter last year.
A number of equities research analysts have issued reports on NOVT shares. BidaskClub downgraded shares of Novanta from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded shares of Novanta from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Friday, May 11th. Finally, Robert W. Baird downgraded shares of Novanta from an “outperform” rating to a “neutral” rating and set a $54.00 target price for the company. in a research report on Wednesday, May 9th.
NOVT stock traded down $0.05 during midday trading on Thursday, reaching $75.20. The company had a trading volume of 106,700 shares, compared to its average volume of 215,316. Novanta has a 1 year low of $38.70 and a 1 year high of $78.85. The company has a quick ratio of 2.14, a current ratio of 3.18 and a debt-to-equity ratio of 0.61. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 47.00 and a beta of 1.60.
In other news, VP Peter L. Chang sold 3,680 shares of the firm’s 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 owns 36,132 shares in the company, valued at approximately $2,552,003.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.70% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in NOVT. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Novanta by 2,010.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,102 shares of the technology company’s stock valued at $158,000 after purchasing an additional 2,955 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Novanta by 58.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,571 shares of the technology company’s stock valued at $160,000 after purchasing an additional 951 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Novanta by 430.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,650 shares of the technology company’s stock valued at $182,000 after purchasing an additional 2,150 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Novanta by 91.7% during the 1st quarter. Quantbot Technologies LP now owns 3,806 shares of the technology company’s stock valued at $198,000 after purchasing an additional 1,821 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT bought a new position in shares of Novanta during the 1st quarter valued at $201,000. Institutional investors and hedge funds own 92.23% 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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