Novanta Inc. (NASDAQ:NOVT - Free Report) - Equities researchers at William Blair decreased their Q4 2024 earnings estimates for Novanta in a report released on Tuesday, November 5th. William Blair analyst B. Drab now expects that the technology company will earn $0.71 per share for the quarter, down from their prior forecast of $0.97. The consensus estimate for Novanta's current full-year earnings is $3.30 per share.
Separately, Robert W. Baird dropped their price target on shares of Novanta from $175.00 to $169.00 and set a "neutral" rating for the company in a research note on Wednesday.
View Our Latest Report on Novanta
Novanta Trading Up 0.6 %
Shares of NOVT traded up $1.13 during mid-day trading on Friday, reaching $182.65. The stock had a trading volume of 144,461 shares, compared to its average volume of 140,880. Novanta has a 52-week low of $120.19 and a 52-week high of $187.12. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 105.58 and a beta of 1.29. The business's fifty day moving average is $174.21 and its 200 day moving average is $170.06. 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 quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, hitting analysts' consensus estimates of $0.85. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The company had revenue of $244.40 million for the quarter, compared to analyst estimates of $242.33 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year.
Insider Activity
In related news, CFO Robert Buckley sold 4,379 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $176.20, for a total transaction of $771,579.80. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company's stock, valued at approximately $21,217,827.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 9,150 shares of company stock valued at $1,608,936 in the last quarter. Insiders own 1.20% of the company's stock.
Institutional Investors Weigh In On Novanta
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in 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 buying an additional 45,937 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Novanta by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company's stock worth $350,836,000 after purchasing an additional 79,718 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in 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 period. William Blair Investment Management LLC raised its position 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 in the last quarter. Finally, Geneva Capital Management LLC grew its position in shares of Novanta by 1.1% during the third quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company's stock worth $139,566,000 after buying an additional 8,574 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.
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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