Novanta (NASDAQ:NOVT) Issues Earnings Results

Novanta (NASDAQ:NOVT) announced its quarterly earnings data on Wednesday. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01, Briefing.com reports. The company had revenue of $159.70 million for the quarter, compared to analyst estimates of $157.08 million. Novanta had a return on equity of 20.01% and a net margin of 6.94%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. Novanta updated its Q1 2020
Pre-Market guidance to 0.34-0.42 EPS and its Q1 guidance to $0.34-0.42 EPS.

Shares of NASDAQ NOVT traded up $6.68 during trading on Wednesday, hitting $92.04. 212,606 shares of the company were exchanged, compared to its average volume of 105,953. Novanta has a 12-month low of $69.31 and a 12-month high of $99.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.38. The company has a fifty day moving average price of $95.25 and a 200-day moving average price of $86.50. The firm has a market capitalization of $3.19 billion, a PE ratio of 75.44 and a beta of 1.43.

In other news, CFO Robert Buckley sold 5,260 shares of Novanta stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $94.82, for a total transaction of $498,753.20. Following the transaction, the chief financial officer now owns 163,321 shares in the company, valued at approximately $15,486,097.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen W. Bershad sold 400,000 shares of Novanta stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.28, for a total value of $34,912,000.00. In the last quarter, insiders have sold 425,893 shares of company stock worth $37,327,381. Insiders own 4.90% of the company’s stock.

NOVT has been the topic of a number of research reports. Zacks Investment Research upgraded Novanta from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. BidaskClub lowered Novanta from a “buy” rating to a “hold” rating in a report on Saturday, February 1st.

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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Earnings History for Novanta (NASDAQ:NOVT)

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