Novanta (NASDAQ:NOVT) Updates Q2 Earnings Guidance

Novanta (NASDAQ:NOVT) issued an update on its second quarter earnings guidance on Tuesday morning. 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 2.0 %

Novanta stock opened at $161.77 on Friday. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 83.82 and a beta of 1.35. The firm has a fifty day moving average price of $166.57 and a two-hundred day moving average price of $157.45. Novanta has a fifty-two week low of $111.20 and a fifty-two week high of $187.60. 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 (NASDAQ:NOVT) last released its earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17. The firm had revenue of $230.92 million for the quarter, compared to analyst estimates of $227.85 million. Novanta had a return on equity of 17.15% and a net margin of 8.27%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. As a group, analysts forecast that Novanta will post 3.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction dated 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 of the company’s stock, valued at approximately $4,226,384. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Robert Buckley sold 3,000 shares of Novanta stock in a transaction dated 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 owns 120,419 shares in the company, valued at approximately $20,519,397.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthijs Glastra sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $172.00, for a total transaction of $860,000.00. Following the sale, the chief executive officer now owns 24,572 shares in the company, valued at $4,226,384. The disclosure for this sale can be found here. 1.20% of the stock is 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.