Novanta Inc (NASDAQ:NOVT) – Analysts at William Blair issued their Q4 2018 earnings estimates for shares of Novanta in a research note issued to investors on Wednesday, January 9th. William Blair analyst B. Drab forecasts that the technology company will post earnings of $0.51 per share for the quarter.
Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, November 6th. The technology company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. Novanta had a return on equity of 18.95% and a net margin of 6.18%. The firm had revenue of $160.79 million during the quarter, compared to analyst estimates of $154.43 million. During the same period in the previous year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis.
Several other equities research analysts have also weighed in on NOVT. BidaskClub upgraded Novanta from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Zacks Investment Research lowered Novanta from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, ValuEngine upgraded Novanta from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Novanta presently has an average rating of “Buy” and a consensus target price of $67.00.
NOVT opened at $67.45 on Friday. Novanta has a twelve month low of $48.40 and a twelve month high of $78.85. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.89 and a quick ratio of 1.97. The company has a market capitalization of $2.34 billion, a P/E ratio of 33.06 and a beta of 1.55.
A number of hedge funds and other institutional investors have recently modified their holdings of NOVT. BlueMountain Capital Management LLC bought a new position in Novanta in the 3rd quarter worth approximately $110,000. Envestnet Asset Management Inc. increased its position in shares of Novanta by 58.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,571 shares of the technology company’s stock valued at $160,000 after purchasing an additional 951 shares during the period. Man Group plc bought a new stake in shares of Novanta during the third quarter valued at approximately $237,000. Jefferies Group LLC bought a new stake in shares of Novanta during the third quarter valued at approximately $312,000. Finally, Jane Street Group LLC bought a new stake in shares of Novanta during the third quarter valued at approximately $363,000. 84.47% of the stock is currently owned by institutional investors.
In other Novanta news, Director Stephen W. Bershad sold 500,000 shares of Novanta stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $68.15, for a total value of $34,075,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthijs Glastra sold 20,000 shares of Novanta stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $74.00, for a total value of $1,480,000.00. Following the completion of the transaction, the chief executive officer now directly owns 71,107 shares in the company, valued at $5,261,918. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
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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