FY2024 Earnings Estimate for Novanta Issued By William Blair

Novanta Inc. (NASDAQ:NOVT - Free Report) - Equities researchers at William Blair decreased their FY2024 earnings per share (EPS) estimates for Novanta in a research note issued to investors on Tuesday, November 5th. William Blair analyst B. Drab now anticipates that the technology company will post earnings of $3.03 per share for the year, down from their previous forecast of $3.30. The consensus estimate for Novanta's current full-year earnings is $3.30 per share. William Blair also issued estimates for Novanta's Q1 2025 earnings at $0.78 EPS, Q2 2025 earnings at $0.87 EPS, Q3 2025 earnings at $1.00 EPS, Q4 2025 earnings at $1.04 EPS, FY2025 earnings at $3.68 EPS and FY2026 earnings at $4.31 EPS.

Separately, Robert W. Baird lowered their price target on Novanta from $175.00 to $169.00 and set a "neutral" rating for the company in a report on Wednesday.

Novanta Trading Down 0.2 %

Shares of NOVT traded down $0.42 during mid-day trading on Thursday, reaching $181.52. 169,551 shares of the company's stock traded hands, compared to its average volume of 140,863. The stock has a market cap of $6.52 billion, a P/E ratio of 104.92 and a beta of 1.29. The stock's 50-day moving average is $174.22 and its two-hundred day moving average is $169.85. Novanta has a 12 month low of $119.64 and a 12 month high of $187.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73.

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

Insider Activity at Novanta

In other Novanta news, CFO Robert Buckley sold 1,111 shares of the company's stock in a transaction on 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 sale, the chief financial officer now owns 120,419 shares in the company, valued at $21,729,608.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 9,150 shares of company stock worth $1,608,936. Company insiders own 1.20% of the company's stock.

Institutional Trading of Novanta

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Novanta by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company's stock worth $674,860,000 after acquiring an additional 45,937 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 buying an additional 79,718 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in Novanta by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,350,651 shares of the technology company's stock valued at $241,658,000 after buying an additional 20,825 shares in 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 buying an additional 4,079 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its stake in Novanta by 1.1% in the 3rd quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company's stock valued at $139,566,000 after buying an additional 8,574 shares in the last quarter. Hedge funds and other institutional investors own 98.35% 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.