Novanta (NASDAQ:NOVT) Issues Earnings Results

Novanta (NASDAQ:NOVT) announced its quarterly earnings results on Tuesday. The technology company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17, Briefing.com reports. 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%. Novanta’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. Novanta updated its Q2 guidance to $0.68 to $0.74 EPS.

Novanta Price Performance

Shares of NOVT stock opened at $161.70 on Friday. 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 has a 12-month low of $111.20 and a 12-month high of $187.60. The firm has a fifty day moving average of $166.57 and a 200-day moving average of $157.45. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 83.82 and a beta of 1.35.

Insider Activity at Novanta

In other Novanta news, CEO Matthijs Glastra sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 24,572 shares of the company’s stock, valued at $4,226,384. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Novanta 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 value of $511,200.00. Following the sale, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $20,519,397.60. The transaction 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 company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $172.00, for a total value of $860,000.00. Following the transaction, the chief executive officer now directly owns 24,572 shares of the company’s stock, 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.