Novanta (NASDAQ:NOVT) Releases Q2 Earnings Guidance

Novanta (NASDAQ:NOVT) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.68 to $0.74 for the period, compared to the consensus earnings per share estimate of $0.73. The company issued revenue guidance of $230 million to $235 million, compared to the consensus revenue estimate of $241.89 million.

Novanta Stock Up 0.8 %

NOVT stock opened at $161.14 on Tuesday. The stock has a 50-day simple moving average of $166.88 and a two-hundred day simple moving average of $157.23. The firm has a market capitalization of $5.78 billion, a PE ratio of 79.38 and a beta of 1.35. Novanta has a twelve month low of $111.20 and a twelve month high of $187.60. The company has a quick ratio of 1.91, a current ratio of 2.98 and a debt-to-equity ratio of 0.52.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. The company had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $210.90 million. Novanta had a net margin of 8.27% and a return on equity of 17.15%. Novanta’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. On average, equities analysts predict that Novanta will post 3.22 EPS for the current fiscal year.

Insider Transactions at Novanta

In other Novanta news, CFO Robert Buckley sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $170.40, for a total value of $511,200.00. Following the completion of the sale, the chief financial officer now owns 120,419 shares in the company, valued at approximately $20,519,397.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $172.00, for a total transaction of $860,000.00. Following the completion of the transaction, the chief executive officer now directly owns 24,572 shares in the company, valued at $4,226,384. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Buckley sold 3,000 shares of Novanta stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $170.40, for a total value of $511,200.00. Following the transaction, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $20,519,397.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,500 shares of company stock worth $1,611,545. Company insiders own 1.20% of the company’s stock.

Novanta Company Profile

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.