$0.38 EPS Expected for Novanta Inc. (NASDAQ:NOVT) This Quarter


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Analysts expect that Novanta Inc. (NASDAQ:NOVT) will post earnings per share (EPS) of $0.38 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Novanta’s earnings. Novanta posted earnings per share of $0.51 during the same quarter last year, which would indicate a negative year-over-year growth rate of 25.5%. The company is expected to announce its next earnings report before the market opens on Tuesday, May 11th.

On average, analysts expect that Novanta will report full-year earnings of $2.09 per share for the current year, with EPS estimates ranging from $2.07 to $2.10. For the next financial year, analysts expect that the business will post earnings of $2.50 per share, with EPS estimates ranging from $2.48 to $2.52. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Novanta.

Novanta (NASDAQ:NOVT) last announced its earnings results on Sunday, February 28th. The technology company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. Novanta had a net margin of 6.81% and a return on equity of 16.33%. The business had revenue of $147.50 million during the quarter, compared to the consensus estimate of $147.05 million. During the same quarter last year, the firm earned $0.55 earnings per share. Novanta’s quarterly revenue was down 7.6% on a year-over-year basis.

A number of brokerages recently weighed in on NOVT. TheStreet raised shares of Novanta from a “c+” rating to a “b” rating in a research note on Monday, March 1st. Zacks Investment Research downgraded shares of Novanta from a “hold” rating to a “sell” rating in a research note on Thursday, March 4th.

NASDAQ NOVT traded down $1.97 during mid-day trading on Tuesday, reaching $129.54. 124,399 shares of the stock were exchanged, compared to its average volume of 105,757. Novanta has a one year low of $81.60 and a one year high of $146.16. The stock has a 50 day simple moving average of $133.90 and a 200-day simple moving average of $126.94. The stock has a market cap of $4.58 billion, a P/E ratio of 111.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.27 and a quick ratio of 1.51.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Novanta during the first quarter valued at about $52,000. Nisa Investment Advisors LLC grew its holdings in shares of Novanta by 22.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,355 shares of the technology company’s stock valued at $160,000 after buying an additional 250 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Novanta during the fourth quarter valued at about $208,000. Milestone Advisory Partners acquired a new position in shares of Novanta during the first quarter valued at about $239,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Novanta during the fourth quarter valued at about $223,000. Hedge funds and other institutional investors own 90.22% 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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