Research Analysts Set Expectations for Novanta Q4 Earnings

Novanta Inc. (NASDAQ:NOVT) – Investment analysts at William Blair cut their Q4 2024 earnings per share (EPS) estimates for shares of Novanta in a research note issued on Tuesday, November 5th. William Blair analyst B. Drab now anticipates that the technology company will post earnings of $0.71 per share for the quarter, down from their previous estimate of $0.97. The consensus estimate for Novanta’s current full-year earnings is $3.30 per share.

Novanta (NASDAQ:NOVT) last issued its earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $244.40 million during the quarter, compared to the consensus estimate of $242.33 million. Novanta had a net margin of 6.91% and a return on equity of 15.77%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share.

Separately, Robert W. Baird decreased their price objective on Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research report on Wednesday.

Novanta Stock Performance

Shares of Novanta stock opened at $181.52 on Friday. Novanta has a 12 month low of $119.64 and a 12 month high of $187.12. The stock’s fifty day simple moving average is $174.22 and its 200 day simple moving average is $169.85. The company has a market capitalization of $6.52 billion, a PE ratio of 104.92 and a beta of 1.29. The company has a current ratio of 2.77, a quick ratio of 1.73 and a debt-to-equity ratio of 0.68.

Insiders Place Their Bets

In related news, CFO Robert Buckley sold 1,111 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.45, for a total transaction of $200,479.95. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $21,729,608.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 9,150 shares of company stock worth $1,608,936. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Novanta

A number of large investors have recently modified their holdings of NOVT. Vanguard Group Inc. grew its stake in shares of Novanta by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock valued at $674,860,000 after buying an additional 45,937 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Novanta by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company’s stock valued at $350,836,000 after acquiring an additional 79,718 shares during the period. Conestoga Capital Advisors LLC increased its stake in shares of Novanta by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,350,651 shares of the technology company’s stock worth $241,658,000 after purchasing an additional 20,825 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Novanta by 0.4% in the 2nd quarter. William Blair Investment Management LLC now owns 960,152 shares of the technology company’s stock valued at $156,610,000 after purchasing an additional 4,079 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its stake in shares of Novanta by 1.1% during the 3rd quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company’s stock worth $139,566,000 after acquiring an additional 8,574 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

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.