Novanta (NASDAQ:NOVT) Issues Q4 Earnings Guidance

Novanta (NASDAQ:NOVT) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.70-0.74 for the period, compared to the consensus estimate of $0.97. The company issued revenue guidance of $237-242 million, compared to the consensus revenue estimate of $263.99 million. Novanta also updated its FY24 guidance to $3.02-3.06 EPS.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird raised their price target on shares of Novanta from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th.

Novanta Stock Down 0.0 %

NASDAQ NOVT opened at $174.17 on Tuesday. The company has a current ratio of 2.77, a quick ratio of 1.73 and a debt-to-equity ratio of 0.68. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 100.68 and a beta of 1.29. The company has a 50 day moving average of $174.56 and a 200-day moving average of $169.58. Novanta has a 1-year low of $111.20 and a 1-year high of $187.12.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The firm had revenue of $235.86 million for the quarter, compared to analyst estimates of $233.63 million. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. On average, equities research analysts expect that Novanta will post 3.3 earnings per share for the current fiscal year.

Insider Activity at Novanta

In other Novanta news, CFO Robert Buckley sold 3,660 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $174.01, for a total transaction of $636,876.60. Following the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at $20,954,110.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 9,150 shares of company stock valued at $1,608,936 over the last quarter. 1.20% of the stock is owned by corporate 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.