Wall Street analysts expect Novanta Inc (NASDAQ:NOVT) to post earnings per share of $0.52 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Novanta’s earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.52. Novanta posted earnings of $0.61 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 14.8%. The company is scheduled to announce its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Novanta will report full year earnings of $2.22 per share for the current year, with EPS estimates ranging from $2.20 to $2.23. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.63 per share, with EPS estimates ranging from $2.60 to $2.65. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Novanta.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.54 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. Novanta had a net margin of 7.76% and a return on equity of 19.49%. The firm had revenue of $155.10 million during the quarter, compared to the consensus estimate of $154.47 million. During the same period last year, the firm posted $0.51 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis.

A number of equities research analysts have recently commented on NOVT shares. BidaskClub downgraded shares of Novanta from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Zacks Investment Research downgraded shares of Novanta from a “hold” rating to a “sell” rating in a report on Saturday, August 10th.

In other news, CEO Matthijs Glastra sold 30,100 shares of Novanta stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $93.21, for a total transaction of $2,805,621.00. Following the completion of the sale, the chief executive officer now directly owns 123,448 shares in the company, valued at $11,506,588.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Buckley sold 16,277 shares of Novanta stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.06, for a total transaction of $1,482,183.62. Following the sale, the chief financial officer now owns 158,803 shares of the company’s stock, valued at $14,460,601.18. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation N.A. boosted its position in shares of Novanta by 6.0% in the second quarter. Zions Bancorporation N.A. now owns 3,646 shares of the technology company’s stock worth $344,000 after acquiring an additional 206 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Novanta by 4.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 4,885 shares of the technology company’s stock worth $461,000 after acquiring an additional 226 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of Novanta in the second quarter worth approximately $26,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Novanta by 6.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,290 shares of the technology company’s stock worth $493,000 after acquiring an additional 309 shares during the last quarter. Finally, Meritage Portfolio Management boosted its position in shares of Novanta by 0.3% in the first quarter. Meritage Portfolio Management now owns 91,553 shares of the technology company’s stock worth $7,757,000 after acquiring an additional 319 shares during the last quarter. 86.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ NOVT traded up $2.35 during midday trading on Friday, reaching $76.99. 12,729 shares of the stock were exchanged, compared to its average volume of 181,826. The company has a market capitalization of $2.60 billion, a P/E ratio of 35.66 and a beta of 1.49. Novanta has a 52-week low of $55.68 and a 52-week high of $96.31. The company has a current ratio of 2.89, a quick ratio of 1.74 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average price of $82.81 and a 200-day moving average price of $82.99.

Novanta Company Profile

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

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