William Blair Weighs in on Novanta Inc’s FY2019 Earnings (NASDAQ:NOVT)

Novanta Inc (NASDAQ:NOVT) – William Blair reduced their FY2019 earnings per share (EPS) estimates for Novanta in a report released on Tuesday, November 5th. William Blair analyst B. Drab now anticipates that the technology company will post earnings of $2.14 per share for the year, down from their previous forecast of $2.23. William Blair also issued estimates for Novanta’s Q4 2019 earnings at $0.54 EPS, Q1 2020 earnings at $0.59 EPS, Q2 2020 earnings at $0.61 EPS, Q3 2020 earnings at $0.63 EPS, Q4 2020 earnings at $0.66 EPS and FY2020 earnings at $2.50 EPS.

Several other equities analysts also recently weighed in on NOVT. BidaskClub downgraded shares of Novanta from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded shares of Novanta from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th.

NASDAQ:NOVT traded down $0.38 during midday trading on Friday, hitting $81.26. The company’s stock had a trading volume of 546 shares, compared to its average volume of 139,401. Novanta has a fifty-two week low of $57.07 and a fifty-two week high of $96.31. The firm’s 50 day moving average is $84.16 and its 200-day moving average is $83.15. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 1.74. The firm has a market cap of $2.97 billion, a P/E ratio of 37.80 and a beta of 1.48.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Novanta had a net margin of 6.94% and a return on equity of 20.01%. The firm had revenue of $154.10 million for the quarter, compared to the consensus estimate of $155.04 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year.

A number of large investors have recently modified their holdings of the stock. Eqis Capital Management Inc. increased its holdings in Novanta by 18.1% in the 3rd quarter. Eqis Capital Management Inc. now owns 3,877 shares of the technology company’s stock worth $317,000 after buying an additional 594 shares during the period. GW&K Investment Management LLC increased its holdings in Novanta by 29.5% in the 3rd quarter. GW&K Investment Management LLC now owns 239,255 shares of the technology company’s stock worth $19,552,000 after buying an additional 54,500 shares during the period. Paradice Investment Management LLC boosted its position in Novanta by 1.2% in the 3rd quarter. Paradice Investment Management LLC now owns 709,703 shares of the technology company’s stock worth $57,997,000 after purchasing an additional 8,586 shares in the last quarter. Yorktown Management & Research Co Inc boosted its position in Novanta by 14.8% in the 3rd quarter. Yorktown Management & Research Co Inc now owns 14,568 shares of the technology company’s stock worth $1,190,000 after purchasing an additional 1,880 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its position in Novanta by 37.8% in the 3rd quarter. Congress Asset Management Co. MA now owns 62,676 shares of the technology company’s stock worth $5,122,000 after purchasing an additional 17,195 shares in the last quarter. Institutional investors own 87.35% 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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Earnings History and Estimates for Novanta (NASDAQ:NOVT)

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