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

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

Novanta Stock Performance

NOVT traded down $3.74 during trading on Wednesday, hitting $158.10. 45,495 shares of the company traded hands, compared to its average volume of 131,409. 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 firm has a market cap of $5.67 billion, a P/E ratio of 79.72 and a beta of 1.35. Novanta has a one year low of $111.20 and a one year high of $187.60. The stock’s fifty day moving average is $166.97 and its 200 day moving average is $157.41.

Insiders Place Their Bets

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

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.