Equities analysts predict that Novanta Inc (NASDAQ:NOVT) will post sales of $157.17 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Novanta’s earnings, with the highest sales estimate coming in at $157.59 million and the lowest estimate coming in at $156.75 million. Novanta reported sales of $156.18 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.6%. The company is expected to report its next earnings results before the market opens on Wednesday, February 26th.

According to Zacks, analysts expect that Novanta will report full-year sales of $623.56 million for the current year, with estimates ranging from $623.14 million to $623.98 million. For the next fiscal year, analysts forecast that the company will post sales of $654.61 million, with estimates ranging from $653.22 million to $656.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Novanta.

NOVT has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Novanta from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub cut shares of Novanta from a “buy” rating to a “hold” rating in a report on Saturday, February 1st.

In related news, CEO Matthijs Glastra sold 12,633 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $95.02, for a total value of $1,200,387.66. Following the completion of the sale, the chief executive officer now owns 119,644 shares of the company’s stock, valued at $11,368,572.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen W. Bershad sold 400,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.28, for a total value of $34,912,000.00. Insiders sold 425,893 shares of company stock worth $37,327,381 in the last 90 days. Company insiders own 4.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in NOVT. Eventide Asset Management LLC purchased a new stake in Novanta in the fourth quarter worth $24,763,000. Conestoga Capital Advisors LLC lifted its stake in Novanta by 18.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 956,469 shares of the technology company’s stock worth $84,590,000 after acquiring an additional 149,916 shares during the period. William Blair Investment Management LLC lifted its stake in Novanta by 13.4% in the fourth quarter. William Blair Investment Management LLC now owns 1,017,254 shares of the technology company’s stock worth $89,966,000 after acquiring an additional 119,851 shares during the period. Artisan Partners Limited Partnership lifted its stake in Novanta by 10.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 991,980 shares of the technology company’s stock worth $87,731,000 after acquiring an additional 90,144 shares during the period. Finally, BlackRock Inc. lifted its stake in Novanta by 2.9% in the second quarter. BlackRock Inc. now owns 2,272,456 shares of the technology company’s stock worth $214,293,000 after acquiring an additional 64,655 shares during the period. 89.24% of the stock is owned by institutional investors.

Shares of Novanta stock traded down $5.77 on Monday, hitting $88.24. The stock had a trading volume of 193,908 shares, compared to its average volume of 101,520. The company has a quick ratio of 1.43, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. Novanta has a one year low of $69.31 and a one year high of $99.79. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 72.33 and a beta of 1.43. The stock’s 50-day simple moving average is $95.30 and its two-hundred day simple moving average is $86.35.

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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