Novanta (NASDAQ:NOVT) Announces Earnings Results

Novanta (NASDAQ:NOVT) released its quarterly earnings data on Tuesday. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $227.85 million. During the same period in the prior year, the firm posted $0.74 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Novanta updated its Q2 guidance to $0.68 to $0.74 EPS.

Novanta Stock Performance

NASDAQ:NOVT traded down $3.94 during mid-day trading on Wednesday, reaching $157.90. 28,403 shares of the stock were exchanged, compared to its average volume of 131,368. 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 1 year low of $111.20 and a 1 year high of $187.60. The company has a 50 day simple moving average of $166.97 and a 200-day simple moving average of $157.41. The stock has a market capitalization of $5.66 billion, a P/E ratio of 79.72 and a beta of 1.35.

Insider Activity

In other Novanta news, CFO Robert Buckley sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were 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 of the company’s stock, valued at approximately $20,519,397.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction that occurred 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 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 document filed with the SEC, which is accessible through this link. Also, CFO Robert Buckley sold 3,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 120,419 shares in the company, 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.

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.