William Blair Estimates Novanta's Q4 Earnings (NASDAQ:NOVT)

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.

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

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.