Novanta (NASDAQ:NOVT - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.020-3.060 for the period, compared to the consensus EPS estimate of 3.290. The company issued revenue guidance of $948.0 million-$953.0 million, compared to the consensus revenue estimate of $973.1 million. Novanta also updated its FY24 guidance to $3.02-3.06 EPS.
Analyst Ratings Changes
Separately, Robert W. Baird boosted their target price on Novanta from $170.00 to $175.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th.
Check Out Our Latest Stock Analysis on Novanta
Novanta Trading Down 5.5 %
NASDAQ:NOVT traded down $9.50 during mid-day trading on Tuesday, hitting $164.67. The company had a trading volume of 372,178 shares, compared to its average volume of 139,659. The firm has a market cap of $5.91 billion, a P/E ratio of 95.18 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77. The business's fifty day moving average is $174.21 and its two-hundred day moving average is $169.69. Novanta has a fifty-two week low of $111.20 and a fifty-two week high of $187.12.
Novanta (NASDAQ:NOVT - Get Free Report) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate 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 return on equity of 15.77% and a net margin of 6.91%. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS. As a group, research analysts expect that Novanta will post 3.3 earnings per share for the current year.
Insider Buying and Selling
In other 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 value of $200,479.95. Following the completion of the sale, the chief financial officer now owns 120,419 shares of the company's stock, valued at approximately $21,729,608.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 9,150 shares of company stock worth $1,608,936 in the last ninety days. 1.20% of the stock is owned by insiders.
Novanta Company Profile
(
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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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