Novanta Inc (NASDAQ:NOVT) Expected to Post Earnings of $0.54 Per Share

Equities analysts predict that Novanta Inc (NASDAQ:NOVT) will post earnings of $0.54 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Novanta’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.53. Novanta posted earnings per share of $0.56 during the same quarter last year, which suggests a negative year over year growth rate of 3.6%. The business is scheduled to report its next earnings report before the market opens on Wednesday, February 26th.

On average, analysts expect that Novanta will report full year earnings of $2.14 per share for the current year. For the next year, analysts expect that the business will report earnings of $2.45 per share. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Novanta.

Separately, BidaskClub lowered shares of Novanta from a “buy” rating to a “hold” rating in a research note on Saturday, February 1st.

NOVT stock opened at $98.56 on Friday. The company’s 50 day moving average price is $94.13 and its 200 day moving average price is $85.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.38. Novanta has a fifty-two week low of $69.31 and a fifty-two week high of $98.60. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 80.79 and a beta of 1.43.

In related news, CFO Robert Buckley sold 5,260 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $94.82, for a total transaction of $498,753.20. Following the sale, the chief financial officer now directly owns 163,321 shares in the company, valued at $15,486,097.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen W. Bershad sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.28, for a total transaction of $34,912,000.00. Insiders have sold 425,893 shares of company stock worth $37,327,381 over the last 90 days. Insiders own 4.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its stake in Novanta by 44.2% in the fourth quarter. Advisors Asset Management Inc. now owns 388 shares of the technology company’s stock valued at $34,000 after purchasing an additional 119 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Novanta in the fourth quarter valued at approximately $52,000. Russell Investments Group Ltd. purchased a new position in Novanta in the third quarter valued at approximately $152,000. Great West Life Assurance Co. Can purchased a new position in Novanta in the fourth quarter valued at approximately $207,000. Finally, BB&T Securities LLC increased its stake in Novanta by 13.9% in the third quarter. BB&T Securities LLC now owns 3,017 shares of the technology company’s stock valued at $235,000 after purchasing an additional 369 shares during the last quarter. Hedge funds and other institutional investors own 89.27% of the company’s stock.

About Novanta

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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