Novanta (NASDAQ:NOVT) Releases Q2 Earnings Guidance

Novanta (NASDAQ:NOVT) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.68 to $0.74 for the period, compared to the consensus EPS estimate of $0.73. The company issued revenue guidance of $230 million to $235 million, compared to the consensus revenue estimate of $241.89 million.

Novanta Stock Up 2.6 %

NOVT traded up $4.26 during trading on Tuesday, hitting $165.40. The company had a trading volume of 131,724 shares, compared to its average volume of 130,774. The company has a market capitalization of $5.93 billion, a PE ratio of 79.38 and a beta of 1.35. Novanta has a one year low of $111.20 and a one year high of $187.60. The firm’s 50-day moving average price is $166.88 and its 200 day moving average price is $157.23. The company has a quick ratio of 1.91, a current ratio of 2.98 and a debt-to-equity ratio of 0.52.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. The business had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $210.90 million. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. As a group, equities analysts expect that Novanta will post 3.22 earnings per share for the current year.

Insider Activity at Novanta

In other Novanta news, CEO Matthijs Glastra sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $172.00, for a total transaction of $860,000.00. Following the sale, the chief executive officer now directly owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Novanta news, CFO Robert Buckley sold 1,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $160.23, for a total transaction of $240,345.00. Following the sale, the chief financial officer now directly owns 120,159 shares of the company’s stock, valued at approximately $19,253,076.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthijs Glastra sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $172.00, for a total transaction of $860,000.00. Following the transaction, the chief executive officer now owns 24,572 shares in the company, valued at $4,226,384. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,500 shares of company stock valued at $1,611,545. 1.20% of the stock is owned by corporate insiders.

Novanta Company Profile

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.