Novanta (NASDAQ:NOVT) Releases Q2 Earnings Guidance

Novanta (NASDAQ:NOVT) updated its second quarter earnings guidance on Tuesday. 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 Price Performance

NOVT stock traded down $3.49 on Wednesday, reaching $158.35. 130,483 shares of the company’s stock were exchanged, compared to its average volume of 132,405. Novanta has a twelve month low of $111.20 and a twelve month high of $187.60. The company has a quick ratio of 1.91, a current ratio of 2.98 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average of $166.97 and a 200-day moving average of $157.41. The firm has a market cap of $5.68 billion, a PE ratio of 79.72 and a beta of 1.35.

Novanta (NASDAQ:NOVT) last posted its quarterly 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 company had revenue of $230.92 million during the quarter, compared to the consensus estimate of $227.85 million. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.74 EPS. As a group, equities analysts predict that Novanta will post 3.22 EPS for the current fiscal year.

Insider Transactions at Novanta

In related news, CEO Matthijs Glastra sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Novanta news, CEO Matthijs Glastra sold 5,000 shares of the 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 transaction, the chief executive officer now owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Buckley sold 3,000 shares of Novanta stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $170.40, for a total value of $511,200.00. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $20,519,397.60. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

About Novanta

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.