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 Trading Up 2.0 %

NASDAQ NOVT opened at $161.77 on Friday. The stock has a 50 day simple moving average of $166.57 and a two-hundred day simple moving average of $157.45. Novanta has a fifty-two week low of $111.20 and a fifty-two week high of $187.60. The stock has a market cap of $5.80 billion, a P/E ratio of 83.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.91 and a current ratio of 2.98.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, May 7th. The technology company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17. The company had revenue of $230.92 million during the quarter, compared to analysts’ expectations of $227.85 million. Novanta had a return on equity of 17.15% and a net margin of 8.27%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. On average, analysts forecast that Novanta will post 3.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Matthijs Glastra sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $172.00, for a total value 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 approximately $4,226,384. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Novanta 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 value of $860,000.00. Following the completion of the sale, the chief executive officer now owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert Buckley sold 3,000 shares of Novanta stock in a transaction 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 directly 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. Corporate insiders own 1.20% of the company’s stock.

About Novanta

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.