Novanta (NASDAQ:NOVT) Issues Earnings Results, Beats Estimates By $0.17 EPS

Novanta (NASDAQ:NOVT) posted its earnings results on Tuesday. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17, Briefing.com reports. The firm had revenue of $230.92 million during the quarter, compared to analysts’ expectations of $227.85 million. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. Novanta updated its Q2 guidance to $0.68 to $0.74 EPS.

Novanta Trading Up 1.5 %

NASDAQ:NOVT traded up $2.38 during trading hours on Thursday, hitting $160.95. 35,726 shares of the stock were exchanged, compared to its average volume of 132,053. 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 company’s 50 day moving average is $166.79 and its two-hundred day moving average is $157.42. Novanta has a twelve month low of $111.20 and a twelve month high of $187.60. The company has a market capitalization of $5.77 billion, a P/E ratio of 82.16 and a beta of 1.35.

Insider Activity

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

About Novanta

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.