Wall Street analysts expect Novanta Inc (NASDAQ:NOVT) to post $154.58 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Novanta’s earnings. The highest sales estimate is $154.85 million and the lowest is $154.31 million. Novanta reported sales of $150.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.8%. The company is expected to issue its next quarterly earnings results before the market opens on Tuesday, August 6th.

According to Zacks, analysts expect that Novanta will report full year sales of $646.67 million for the current financial year, with estimates ranging from $646.37 million to $646.96 million. For the next financial year, analysts anticipate that the firm will post sales of $689.69 million, with estimates ranging from $687.73 million to $691.64 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Novanta.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $155.85 million. Novanta had a return on equity of 19.26% and a net margin of 7.92%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS.

A number of research analysts have recently commented on NOVT shares. BidaskClub cut Zebra Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th.

In related news, CFO Robert Buckley sold 16,277 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $91.06, for a total transaction of $1,482,183.62. Following the completion of the transaction, the chief financial officer now owns 158,803 shares of the company’s stock, valued at approximately $14,460,601.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthijs Glastra sold 30,100 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $93.21, for a total value of $2,805,621.00. Following the transaction, the chief executive officer now directly owns 123,448 shares of the company’s stock, valued at approximately $11,506,588.08. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Meritage Portfolio Management increased its position in Novanta by 1.6% during the 2nd quarter. Meritage Portfolio Management now owns 93,056 shares of the technology company’s stock valued at $8,775,000 after buying an additional 1,503 shares in the last quarter. Aviva PLC bought a new position in Novanta during the 2nd quarter valued at approximately $2,739,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Novanta by 35.8% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,840 shares of the technology company’s stock valued at $834,000 after buying an additional 2,330 shares in the last quarter. SG Americas Securities LLC increased its position in Novanta by 112.8% during the 2nd quarter. SG Americas Securities LLC now owns 3,416 shares of the technology company’s stock valued at $322,000 after buying an additional 1,811 shares in the last quarter. Finally, Moody Aldrich Partners LLC increased its position in Novanta by 2.8% during the 2nd quarter. Moody Aldrich Partners LLC now owns 25,775 shares of the technology company’s stock valued at $2,431,000 after buying an additional 693 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Shares of NOVT traded down $0.67 on Friday, reaching $87.58. The stock had a trading volume of 137,897 shares, compared to its average volume of 148,363. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 40.55 and a beta of 1.53. The company has a quick ratio of 1.78, a current ratio of 2.83 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $89.00. Novanta has a 12-month low of $55.68 and a 12-month high of $96.31.

Novanta Company Profile

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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