Novanta (NASDAQ:NOVT) Posts Earnings Results, Beats Expectations By $0.17 EPS

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

Novanta Stock Performance

Shares of Novanta stock opened at $161.84 on Wednesday. The firm’s fifty day simple moving average is $166.97 and its 200-day simple moving average is $157.41. Novanta has a 12 month low of $111.20 and a 12 month high of $187.60. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 79.72 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.98 and a quick ratio of 1.91.

Insider Buying and Selling

In other Novanta 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 transaction of $860,000.00. Following the transaction, the chief executive officer now directly owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Robert Buckley sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 owns 120,419 shares in the company, valued at $20,519,397.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction on 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 directly owns 24,572 shares of the company’s stock, valued at $4,226,384. The disclosure for this sale can be found here. 1.20% of the stock is owned by company 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.