Novanta (NOVT) Stock Price, News & Analysis

Company Overview

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. The Precision Medicine and Manufacturing segment offers photonics-based solutions, including laser scanning, beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products serving photonics-based applications for industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures. The Medical Solutions segment provides a range of medical grade technologies, including medical insufflators, pumps, and related disposables; visualization solutions; wireless technologies, video recorders, and video integration technologies for operating room integrations; optical data collection and machine vision technologies; radio frequency identification technologies; thermal chart recorders; spectrometry technologies; and embedded touch screen solutions. The Robotics and Automation segment offers optical and inductive encoders, precision motors, servo drives and motion control solutions, integrated stepper motors, intelligent robotic end-of-arm technology solutions, air bearings, and air bearing spindles. The company sells its products through its direct sales force and distributors under the Cambridge Technology, Synrad, Laser Quantum, ARGES, WOM, NDS, Med X Change, Reach Technology, JADAK, ThingMagic, Photo Research, General Scanning, ATI Industrial Automation, Celera Motion, IMS, MicroE, Applimotion, Zettlex, Ingenia, and Westwind brands. The company was formerly known as GSI Group, Inc. and changed its name to Novanta Inc. in May 2016. Novanta Inc. was incorporated in 1968 and is headquartered in Bedford, Massachusetts.

Key Stats

• Today's Range: $163.52 to $165.43
• 50-Day Range: $164.67 to $182.65
• 52-Week Range: $141.95 to $187.12
• Volume: 216,818 shs
• Average Volume: 143,760 shs
• Market Capitalization: $5.92 billion
• P/E Ratio: 98.77
• Dividend Yield: N/A
• Price Target: $169.00
• Consensus Rating: Hold

Novanta Stock Analysis - MarketRank™

Novanta scored higher than 32% of companies evaluated by MarketBeat, and ranked 512th out of 648 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.0 / 5
• Analyst Rating: Hold

Consensus Rating

Novanta has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Novanta has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 21.45%

Earnings Growth

Earnings for Novanta are expected to grow by 21.45% in the coming year, from $3.03 to $3.68 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Novanta is 98.77, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 131.16.

Price to Earnings Ratio vs. Sector

The P/E ratio of Novanta is 98.77, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 258.14.

Price to Book Value per Share Ratio

Novanta has a P/B Ratio of 8.77. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

4.76% of the outstanding shares of Novanta have been sold short.

Short Interest Ratio / Days to Cover

Novanta has a short interest ratio ("days to cover") of 12.2, which indicates bearish sentiment.

Change versus previous month

Short interest in Novanta has recently decreased by 1.72%, indicating that investor sentiment is improving.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Novanta does not currently pay a dividend.

Dividend Growth

Novanta does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

4.76% of the outstanding shares of Novanta have been sold short.

Short Interest Ratio / Days to Cover

Novanta has a short interest ratio ("days to cover") of 12.2, which indicates bearish sentiment.

Change versus previous month

Short interest in Novanta has recently decreased by 1.72%, indicating that investor sentiment is improving.

News and Social Media

• Score: 1.3 / 5
• News Sentiment: 0.38

News Sentiment

Novanta has a news sentiment score of 0.38. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.58 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 3 news articles for Novanta this week, compared to 3 articles on an average week.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Novanta insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $2,956,686.00 in company stock.

Percentage Held by Insiders

Only 1.20% of the stock of Novanta is held by insiders.

Percentage Held by Institutions

98.35% of the stock of Novanta is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

NOVT Stock Analysis - Frequently Asked Questions

How have NOVT shares performed this year?

Novanta's stock was trading at $168.41 at the start of the year. Since then, NOVT shares have decreased by 2.1% and is now trading at $164.94.
View the best growth stocks for 2024 here.

How were Novanta's earnings last quarter?

Novanta Inc. (NASDAQ:NOVT) announced its quarterly earnings data on Tuesday, November, 5th. The technology company reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. The firm's revenue was up 10.3% on a year-over-year basis.

Who are Novanta's major shareholders?

Novanta's top institutional investors include Conestoga Capital Advisors LLC (3.76%), State Street Corp (3.61%), Wasatch Advisors LP (2.80%) and Geode Capital Management LLC (2.44%). Insiders that own company stock include Robert Buckley, Matthijs Glastra, Brian S Young and Thomas N Secor.
View institutional ownership trends.

How do I buy shares of Novanta?

Shares of NOVT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Novanta own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Novanta investors own include American Water Works (AWK), Waste Connections (WCN), The RMR Group (RMR), DiamondRock Hospitality (DRH), AUO (AUOTY), iShares Micro-Cap ETF (IWC) and Voyager Therapeutics (VYGR).

Company Calendar

• Last Earnings: 11/05/2024
• Today: 11/20/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/26/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: Miscellaneous electrical machinery, equipment, & supplies
• Sub-Industry: Electrical Equipment
• Current Symbol: NASDAQ:NOVT
• Previous Symbol: NASDAQ:GSIG
• CUSIP: N/A
• CIK: 1076930
• Web: www.novanta.com
• Phone: (781) 266-5700
• Fax: 781-266-5114
• Employees: 2,900
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $169.00
• High Stock Price Target: $169.00
• Low Stock Price Target: $169.00
• Potential Upside/Downside: +2.5%
• Consensus Rating: Hold
• Rating Score (0-4): 2.00
• Research Coverage: 1 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.67
• Trailing P/E Ratio: 98.77
• Forward P/E Ratio: 54.44
• P/E Growth: N/A
• Net Income: $72.88 million
• Net Margins: 6.52%
• Pretax Margin: 8.02%
• Return on Equity: 15.20%
• Return on Assets: 7.80%

Debt

• Debt-to-Equity Ratio: 0.61
• Current Ratio: 2.79
• Quick Ratio: 1.81

Sales & Book Value

• Annual Sales: $881.66 million
• Price / Sales: 6.72
• Cash Flow: $4.26 per share
• Price / Cash Flow: 38.71
• Book Value: $18.81 per share
• Price / Book: 8.77

Miscellaneous

• Outstanding Shares: 35,920,000
• Free Float: 35,490,000
• Market Cap: $5.92 billion
• Optionable: Optionable
• Beta: 1.29