Novanta (NASDAQ:NOVT – Get Free Report) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.70-0.74 for the period, compared to the consensus earnings per share estimate of $0.97. The company issued revenue guidance of $237-242 million, compared to the consensus revenue estimate of $263.99 million. Novanta also updated its FY24 guidance to $3.02-3.06 EPS.
Novanta Price Performance
NASDAQ NOVT opened at $174.17 on Tuesday. Novanta has a 12-month low of $111.20 and a 12-month high of $187.12. The firm’s 50 day moving average is $174.56 and its 200-day moving average is $169.58. The company has a market capitalization of $6.25 billion, a PE ratio of 100.68 and a beta of 1.29. The company has a quick ratio of 1.73, a current ratio of 2.77 and a debt-to-equity ratio of 0.68.
Novanta (NASDAQ:NOVT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The company had revenue of $235.86 million during the quarter, compared to the consensus estimate of $233.63 million. Novanta had a net margin of 6.91% and a return on equity of 15.77%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. Equities research analysts anticipate that Novanta will post 3.3 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Get Our Latest Research Report on NOVT
Insider Activity
In other news, CFO Robert Buckley sold 1,111 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $180.45, for a total value of $200,479.95. Following the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $21,729,608.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 9,150 shares of company stock valued at $1,608,936 in the last quarter. Company 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.
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