Novanta (NOVT) Set to Announce Quarterly Earnings on Tuesday

Novanta (NASDAQ:NOVT) will be announcing its quarterly earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.57 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. The firm had revenue of $211.60 million for the quarter, compared to the consensus estimate of $210.90 million. Novanta had a return on equity of 17.15% and a net margin of 8.27%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. On average, analysts expect Novanta to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Novanta Stock Performance

Shares of Novanta stock opened at $159.89 on Friday. 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’s fifty day moving average is $166.82 and its two-hundred day moving average is $156.99. Novanta has a 52 week low of $111.20 and a 52 week high of $187.60. The company has a market capitalization of $5.73 billion, a PE ratio of 78.76 and a beta of 1.35.

Insiders Place Their Bets

In other news, CFO Robert Buckley sold 3,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $170.40, for a total transaction of $511,200.00. Following the transaction, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $20,519,397.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Robert Buckley sold 3,000 shares of the firm’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 completion of the transaction, the chief financial officer now owns 120,419 shares in the company, valued at approximately $20,519,397.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $172.00, for a total value of $860,000.00. Following the sale, the chief executive officer now directly owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The disclosure for this sale can be found here. Insiders have sold 9,500 shares of company stock worth $1,611,545 in the last ninety days. 1.20% of the stock is owned by company insiders.

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.