William Blair Comments on Novanta Inc’s Q1 2019 Earnings (NOVT)

Novanta Inc (NASDAQ:NOVT) – Research analysts at William Blair issued their Q1 2019 earnings per share (EPS) estimates for shares of Novanta in a note issued to investors on Wednesday, January 9th. William Blair analyst B. Drab anticipates that the technology company will earn $0.52 per share for the quarter. William Blair also issued estimates for Novanta’s Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.59 EPS and FY2020 earnings at $2.63 EPS.

Other equities research analysts also recently issued research reports about the company. BidaskClub raised Novanta from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. ValuEngine downgraded Novanta from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Finally, Zacks Investment Research downgraded Novanta from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Novanta presently has an average rating of “Buy” and an average target price of $67.00.

Novanta stock opened at $67.56 on Thursday. The company has a quick ratio of 1.97, a current ratio of 2.89 and a debt-to-equity ratio of 0.69. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 42.23 and a beta of 1.55. Novanta has a fifty-two week low of $48.40 and a fifty-two week high of $78.85.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.09. The company had revenue of $160.79 million during the quarter, compared to the consensus estimate of $154.43 million. Novanta had a return on equity of 18.95% and a net margin of 6.18%. Novanta’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share.

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

Large investors have recently made changes to their positions in the company. BlueMountain Capital Management LLC purchased a new stake in shares of Novanta in the third quarter valued at $110,000. Envestnet Asset Management Inc. grew its position in Novanta by 58.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,571 shares of the technology company’s stock valued at $160,000 after acquiring an additional 951 shares during the period. Man Group plc purchased a new stake in Novanta during the third quarter valued at about $237,000. Jefferies Group LLC purchased a new stake in Novanta during the third quarter valued at about $312,000. Finally, Jane Street Group LLC purchased a new stake in Novanta during the third quarter valued at about $363,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Novanta Company Profile

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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