Novanta (NASDAQ:NOVT) Announces Quarterly Earnings Results

Novanta (NASDAQ:NOVT) announced its earnings results on Tuesday. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.17, Briefing.com reports. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The business had revenue of $230.92 million during the quarter, compared to the consensus estimate of $227.85 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Novanta updated its Q2 guidance to $0.68 to $0.74 EPS.

Novanta Stock Performance

NASDAQ NOVT traded up $2.38 during trading hours on Thursday, hitting $160.95. 35,726 shares of the stock were exchanged, compared to its average volume of 132,053. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 82.16 and a beta of 1.35. Novanta has a 12-month low of $111.20 and a 12-month high of $187.60. The stock has a 50-day moving average of $166.79 and a 200 day moving average of $157.42. The company has a quick ratio of 1.91, a current ratio of 2.98 and a debt-to-equity ratio of 0.52.

Insider Buying and Selling at Novanta

In other news, CFO Robert Buckley sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $170.40, for a total transaction of $511,200.00. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $20,519,397.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Novanta news, 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 in the company, valued at approximately $20,519,397.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction 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 owns 24,572 shares in the company, valued at approximately $4,226,384. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

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.