$0.40 EPS Expected for Novanta Inc. (NOVT) This Quarter

Equities analysts expect that Novanta Inc. (NASDAQ:NOVT) will report $0.40 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Novanta’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.41. Novanta posted earnings of $0.31 per share during the same quarter last year, which would indicate a positive year over year growth rate of 29%. The firm is expected to issue its next earnings report before the market opens on Tuesday, May 8th.

According to Zacks, analysts expect that Novanta will report full-year earnings of $1.92 per share for the current year, with EPS estimates ranging from $1.89 to $1.94. For the next year, analysts anticipate that the business will post earnings of $2.17 per share, with EPS estimates ranging from $2.15 to $2.18. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Novanta.

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Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Novanta had a net margin of 9.80% and a return on equity of 18.52%. The company had revenue of $146.92 million for the quarter, compared to analyst estimates of $146.35 million. During the same period in the prior year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 48.6% on a year-over-year basis.

A number of research firms have recently commented on NOVT. Zacks Investment Research lowered shares of Novanta from a “buy” rating to a “hold” rating in a research note on Friday, April 6th. Robert W. Baird reaffirmed a “buy” rating on shares of Novanta in a research note on Thursday, March 1st. BidaskClub raised shares of Novanta from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. Finally, William Blair began coverage on shares of Novanta in a research note on Tuesday, February 27th. They issued an “outperform” rating on the stock.

In related news, CFO Robert Buckley sold 8,764 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $56.83, for a total transaction of $498,058.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 26,394 shares of company stock worth $1,480,917 in the last quarter. 6.70% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System lifted its position in shares of Novanta by 19.7% during the 3rd quarter. California Public Employees Retirement System now owns 30,400 shares of the technology company’s stock valued at $1,325,000 after acquiring an additional 5,000 shares during the period. BlackRock Inc. lifted its position in shares of Novanta by 8.7% during the 4th quarter. BlackRock Inc. now owns 2,020,420 shares of the technology company’s stock valued at $101,020,000 after acquiring an additional 160,881 shares during the period. New York State Common Retirement Fund lifted its position in shares of Novanta by 112.8% during the 3rd quarter. New York State Common Retirement Fund now owns 121,474 shares of the technology company’s stock valued at $5,296,000 after acquiring an additional 64,377 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Novanta by 2.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 151,247 shares of the technology company’s stock valued at $7,563,000 after acquiring an additional 4,001 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Novanta by 25.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,302,770 shares of the technology company’s stock valued at $115,139,000 after acquiring an additional 467,585 shares during the period. Institutional investors own 82.50% of the company’s stock.

NASDAQ:NOVT opened at $58.30 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.00 and a current ratio of 2.93. Novanta has a 52 week low of $26.00 and a 52 week high of $60.30. The firm has a market capitalization of $1,984.00, a PE ratio of 35.53 and a beta of 1.47.

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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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