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.
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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