Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Novanta (NOVT) Share Price
News headlines about Novanta (NASDAQ:NOVT) have trended somewhat positive recently, according to Accern Sentiment Analysis. Accern scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Novanta earned a media sentiment score of 0.10 on Accern’s scale. Accern also gave news stories about the technology company an impact score of 45.2521727760659 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Novanta (NOVT) traded down $0.20 during mid-day trading on Friday, hitting $50.00. 154,353 shares of the company were exchanged, compared to its average volume of 270,006. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.00 and a current ratio of 2.93. The stock has a market capitalization of $1,736.53, a price-to-earnings ratio of 36.76 and a beta of 1.27. Novanta has a 1 year low of $20.70 and a 1 year high of $55.10.
Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. The company had revenue of $146.30 million during the quarter, compared to analyst estimates of $132.10 million. Novanta had a net margin of 12.45% and a return on equity of 18.29%. Novanta’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 earnings per share. research analysts anticipate that Novanta will post 1.58 EPS for the current fiscal year.
A number of research firms recently weighed in on NOVT. BidaskClub raised shares of Novanta from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. Robert W. Baird began coverage on shares of Novanta in a report on Thursday, December 7th. They issued an “outperform” rating and a $54.00 target price for the company.
In other Novanta news, Director Stephen W. Bershad sold 500,000 shares of Novanta stock in a transaction on Monday, November 27th. The shares were sold at an average price of $52.55, for a total transaction of $26,275,000.00. Following the completion of the transaction, the director now directly owns 1,711,648 shares of the company’s stock, valued at $89,947,102.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.30% of the stock is owned by insiders.
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Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.
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