Novanta (NOVT) Earning Somewhat Favorable Press Coverage, Report Shows

News coverage about Novanta (NASDAQ:NOVT) has been trending somewhat positive recently, according to Accern Sentiment. The research firm identifies negative and positive 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 0.11 on Accern’s scale. Accern also assigned headlines about the technology company an impact score of 45.2895336234235 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

Shares of NASDAQ NOVT opened at $51.05 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.93 and a quick ratio of 2.00. The stock has a market cap of $1,766.18, a price-to-earnings ratio of 31.91 and a beta of 1.47. Novanta has a 12 month low of $26.00 and a 12 month high of $60.30.

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Novanta (NASDAQ:NOVT) last issued its earnings results on Wednesday, February 28th. The technology company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The firm had revenue of $146.92 million during the quarter, compared to the consensus estimate of $146.35 million. Novanta had a return on equity of 18.52% and a net margin of 9.80%. The business’s quarterly revenue was up 48.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. sell-side analysts predict that Novanta will post 1.92 earnings per share for the current year.

A number of research analysts recently commented on NOVT shares. BidaskClub raised Novanta from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. Zacks Investment Research downgraded Novanta from a “buy” rating to a “hold” rating in a research note on Friday. William Blair initiated coverage on Novanta in a research note on Tuesday, February 27th. They issued an “outperform” rating for the company. Finally, Robert W. Baird reissued a “buy” rating on shares of Novanta in a research note on Thursday, March 1st.

In other Novanta news, CFO Robert Buckley sold 8,850 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $55.55, for a total transaction of $491,617.50. Following the completion of the transaction, the chief financial officer now owns 184,187 shares of the company’s stock, valued at $10,231,587.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 26,394 shares of company stock valued at $1,480,917. Insiders own 8.30% of the company’s stock.

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About Novanta

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.

Insider Buying and Selling by Quarter for Novanta (NASDAQ:NOVT)

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