Novanta (NASDAQ:NOVT) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Novanta (NASDAQ:NOVT) posted its earnings results on Tuesday. The technology company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.19, MarketWatch Earnings reports. The business had revenue of $162.60 million during the quarter, compared to the consensus estimate of $156.28 million. Novanta had a return on equity of 16.33% and a net margin of 6.81%. Novanta’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS.

NASDAQ:NOVT traded up $5.18 on Tuesday, reaching $130.55. The company’s stock had a trading volume of 114,267 shares, compared to its average volume of 104,534. Novanta has a 1-year low of $87.42 and a 1-year high of $146.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.51 and a current ratio of 2.27. The firm has a market cap of $4.62 billion, a PE ratio of 110.79 and a beta of 1.09. The business’s 50-day moving average price is $133.76 and its two-hundred day moving average price is $127.37.

Several equities analysts have issued reports on NOVT shares. TheStreet upgraded Novanta from a “c+” rating to a “b” rating in a research report on Monday, March 1st. Zacks Investment Research raised Novanta from a “sell” rating to a “hold” rating in a research note on Wednesday, May 5th.

In other news, CFO Robert Buckley sold 3,704 shares of the business’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $136.02, for a total value of $503,818.08. Following the sale, the chief financial officer now directly owns 158,198 shares in the company, valued at $21,518,091.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction dated Tuesday, April 20th. The shares were sold at an average price of $135.17, for a total value of $1,013,775.00. Following the completion of the sale, the chief executive officer now owns 120,831 shares in the company, valued at $16,332,726.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,704 shares of company stock valued at $2,533,318. Insiders own 3.60% of the company’s stock.

About Novanta

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. Its Photonics segment offers photonics-based solutions, including laser scanning and beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products for photonics-based applications, such as industrial 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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