Novanta Inc Expected to Earn Q4 2018 Earnings of $0.51 Per Share (NOVT)

Novanta Inc (NASDAQ:NOVT) – Stock analysts at William Blair issued their Q4 2018 earnings per share (EPS) estimates for Novanta in a research note issued on Wednesday, January 9th. William Blair analyst B. Drab expects that the technology company will earn $0.51 per share for the quarter.

Other equities analysts have also issued research reports about the company. BidaskClub raised Novanta from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. Zacks Investment Research raised Novanta from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Saturday, November 17th. Finally, ValuEngine lowered Novanta from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $67.00.

Shares of Novanta stock opened at $67.45 on Friday. Novanta has a 52 week low of $48.40 and a 52 week high of $78.85. The firm has a market capitalization of $2.34 billion, a PE ratio of 33.06 and a beta of 1.55. The company has a current ratio of 2.89, a quick ratio of 1.97 and a debt-to-equity ratio of 0.69.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The firm had revenue of $160.79 million during the quarter, compared to analysts’ expectations of $154.43 million. Novanta had a return on equity of 18.95% and a net margin of 6.18%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share.

In other Novanta news, Director Stephen W. Bershad sold 500,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $68.15, for a total transaction of $34,075,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthijs Glastra sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $74.00, for a total value of $1,480,000.00. Following the sale, the chief executive officer now owns 71,107 shares in the company, valued at approximately $5,261,918. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Eagle Asset Management Inc. purchased a new stake in Novanta during the 3rd quarter worth about $8,420,000. Jefferies Group LLC purchased a new position in shares of Novanta in the 3rd quarter valued at about $312,000. Northern Trust Corp increased its holdings in shares of Novanta by 3.8% in the 2nd quarter. Northern Trust Corp now owns 448,729 shares of the technology company’s stock valued at $27,955,000 after acquiring an additional 16,283 shares during the last quarter. Norris Perne & French LLP MI purchased a new position in shares of Novanta in the 3rd quarter valued at about $4,877,000. Finally, BlackRock Inc. increased its holdings in shares of Novanta by 6.0% in the 2nd quarter. BlackRock Inc. now owns 2,171,173 shares of the technology company’s stock valued at $135,264,000 after acquiring an additional 123,401 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

About Novanta

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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