Novanta Inc. (NASDAQ:NOVT - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $131.02 and last traded at $131.96, with a volume of 87338 shares. The stock had previously closed at $134.21.
Analysts Set New Price Targets
Separately, Robert W. Baird decreased their price objective on Novanta from $169.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd.
Check Out Our Latest Stock Analysis on Novanta
Novanta Trading Up 2.5 %
The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The firm has a market capitalization of $4.92 billion, a P/E ratio of 81.92 and a beta of 1.34. The business's 50-day moving average is $144.31 and its 200 day moving average is $159.75.
Novanta (NASDAQ:NOVT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The technology company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The company had revenue of $238.10 million for the quarter, compared to analysts' expectations of $240.29 million. During the same quarter last year, the business earned $0.63 earnings per share. Novanta's revenue was up 12.5% on a year-over-year basis. As a group, analysts anticipate that Novanta Inc. will post 3.03 EPS for the current fiscal year.
Institutional Investors Weigh In On Novanta
A number of large investors have recently modified their holdings of NOVT. Empowered Funds LLC bought a new stake in shares of Novanta during the 4th quarter worth $26,000. Johnson Financial Group Inc. raised its stake in Novanta by 482.1% during the fourth quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock worth $49,000 after acquiring an additional 270 shares in the last quarter. Huntington National Bank raised its stake in Novanta by 53.6% during the fourth quarter. Huntington National Bank now owns 430 shares of the technology company's stock worth $66,000 after acquiring an additional 150 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Novanta in the fourth quarter worth about $97,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Novanta by 6,500.0% in the 4th quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company's stock valued at $111,000 after purchasing an additional 715 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.
About Novanta
(
Get Free Report)
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.
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