Novanta (NASDAQ:NOVT) Issues Q4 2024 Earnings Guidance

Novanta (NASDAQ:NOVT) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.700-0.740 for the period, compared to the consensus estimate of 0.980. The company issued revenue guidance of $237.0 million-$242.0 million, compared to the consensus revenue estimate of $264.0 million.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised their price objective on Novanta from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th.

Novanta Price Performance

Shares of NOVT opened at $174.17 on Tuesday. The firm has a market capitalization of $6.25 billion, a PE ratio of 100.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73. The company’s 50-day moving average is $174.56 and its 200-day moving average is $169.58. Novanta has a fifty-two week low of $111.20 and a fifty-two week high of $187.12.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.04. The business had revenue of $235.86 million during the quarter, compared to the consensus estimate of $233.63 million. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Equities analysts forecast that Novanta will post 3.3 EPS for the current year.

Insider Activity at Novanta

In other Novanta news, CFO Robert Buckley sold 3,660 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $174.01, for a total value of $636,876.60. Following the completion of the sale, the chief financial officer now owns 120,419 shares of the company’s stock, valued at $20,954,110.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 9,150 shares of company stock worth $1,608,936. 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.