Equities research analysts expect Novanta Inc (NASDAQ:NOVT) to announce earnings of $0.52 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Novanta’s earnings. Novanta reported earnings per share of $0.45 during the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Novanta will report full year earnings of $2.00 per share for the current year, with EPS estimates ranging from $1.99 to $2.00. For the next financial year, analysts anticipate that the business will report earnings of $2.21 per share, with EPS estimates ranging from $2.17 to $2.25. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Novanta.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The company had revenue of $150.40 million for the quarter, compared to analysts’ expectations of $147.26 million. Novanta had a net margin of 5.14% and a return on equity of 19.99%. Novanta’s revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS.

NOVT has been the topic of a number of analyst reports. BidaskClub cut shares of Novanta from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 25th. Zacks Investment Research upgraded shares of Novanta from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Saturday, August 11th.

In other Novanta news, CFO Robert Buckley sold 13,487 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $72.90, for a total value of $983,202.30. Following the completion of the transaction, the chief financial officer now owns 157,027 shares of the company’s stock, valued at approximately $11,447,268.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Peter L. Chang sold 3,680 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $70.63, for a total value of $259,918.40. Following the completion of the transaction, the vice president now directly owns 36,132 shares of the company’s stock, valued at approximately $2,552,003.16. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of NOVT. SG Americas Securities LLC purchased a new stake in shares of Novanta during the 1st quarter valued at about $216,000. Virginia Retirement Systems ET AL increased its position in shares of Novanta by 54.4% during the 1st quarter. Virginia Retirement Systems ET AL now owns 10,500 shares of the technology company’s stock valued at $548,000 after purchasing an additional 3,700 shares during the last quarter. Swiss National Bank increased its position in shares of Novanta by 3.6% during the 1st quarter. Swiss National Bank now owns 57,300 shares of the technology company’s stock valued at $2,988,000 after purchasing an additional 2,000 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Novanta by 3.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 156,429 shares of the technology company’s stock valued at $8,158,000 after purchasing an additional 5,182 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Novanta during the 1st quarter valued at about $4,249,000. 85.76% of the stock is owned by institutional investors and hedge funds.

Novanta stock traded up $0.25 during mid-day trading on Friday, reaching $72.55. The stock had a trading volume of 2,269 shares, compared to its average volume of 234,624. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 45.34 and a beta of 1.60. Novanta has a one year low of $41.90 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.18 and a quick ratio of 2.14.

About Novanta

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

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