Novanta (NASDAQ:NOVT) Posts Earnings Results

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

Novanta Stock Performance

NASDAQ NOVT opened at $161.70 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.98 and a quick ratio of 1.91. Novanta has a 1-year low of $111.20 and a 1-year high of $187.60. The firm has a market capitalization of $5.80 billion, a P/E ratio of 83.82 and a beta of 1.35. The business’s 50-day simple moving average is $166.57 and its 200-day simple moving average is $157.45.

Insider Buying and Selling

In other Novanta news, CEO Matthijs Glastra sold 5,000 shares of the 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 $4,226,384. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Robert Buckley sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $170.40, for a total transaction of $511,200.00. Following the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at $20,519,397.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthijs Glastra sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was 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 directly owns 24,572 shares in the company, valued at approximately $4,226,384. The disclosure for this sale can be found here. Corporate 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.