Novanta (NASDAQ:NOVT) is set to post its Q3 quarterly earnings results before the market opens on Tuesday, November 6th. Analysts expect Novanta to post earnings of $0.52 per share for the quarter. Novanta has set its Q3 guidance at $0.50-0.53 EPS and its FY18 guidance at $1.96-2.02 EPS.
Novanta (NASDAQ:NOVT) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. Novanta had a net margin of 5.14% and a return on equity of 19.99%. The company had revenue of $150.40 million for the quarter, compared to analyst estimates of $147.26 million. During the same period in the prior year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, analysts expect Novanta to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of NOVT opened at $62.04 on Friday. The company has a current ratio of 3.18, a quick ratio of 2.14 and a debt-to-equity ratio of 0.61. Novanta has a twelve month low of $43.65 and a twelve month high of $78.85. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 33.18 and a beta of 1.72.
Several research analysts have weighed in on the stock. BidaskClub lowered shares of Novanta from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered shares of Novanta from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $64.00.
In other news, CFO Robert Buckley sold 13,487 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $72.90, for a total value of $983,202.30. Following the sale, the chief financial officer now directly owns 157,027 shares in the company, valued at $11,447,268.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Peter L. Chang sold 3,680 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $70.63, for a total transaction of $259,918.40. Following the completion of the sale, the vice president now owns 36,132 shares in the company, valued at $2,552,003.16. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
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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