Novanta (NASDAQ:NOVT) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Novanta (NASDAQ:NOVT) announced its quarterly earnings data on Tuesday. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05, Zacks reports. The firm had revenue of $238.10 million for the quarter, compared to the consensus estimate of $240.29 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share.

Novanta Trading Down 1.6 %

NOVT stock traded down $2.45 during midday trading on Thursday, hitting $146.86. 35,265 shares of the company’s stock were exchanged, compared to its average volume of 227,077. Novanta has a 1-year low of $137.91 and a 1-year high of $187.12. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $5.28 billion, a PE ratio of 87.94 and a beta of 1.28. The business has a 50-day simple moving average of $148.99 and a two-hundred day simple moving average of $164.69.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price objective on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

Novanta Company Profile

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.