S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68

Novanta Inc. Forecasted to Post Q2 2022 Earnings of $0.72 Per Share (NASDAQ:NOVT)

Last updated on Saturday, May 14, 2022 | 2022 MarketBeat

Novanta Inc. (NASDAQ:NOVT - Get Rating) - Research analysts at William Blair lowered their Q2 2022 EPS estimates for Novanta in a report released on Tuesday, May 10th. William Blair analyst B. Drab now expects that the technology company will post earnings of $0.72 per share for the quarter, down from their previous estimate of $0.74. William Blair has a "Outperform" rating on the stock. William Blair also issued estimates for Novanta's Q3 2022 earnings at $0.78 EPS and FY2023 earnings at $3.55 EPS.

NOVT has been the topic of a number of other research reports. Zacks Investment Research raised Novanta from a "hold" rating to a "buy" rating and set a $135.00 price objective on the stock in a research note on Friday. StockNews.com began coverage on Novanta in a research note on Thursday, March 31st. They set a "hold" rating on the stock.

Novanta stock opened at $128.06 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.35 and a current ratio of 2.03. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 79.05 and a beta of 1.11. Novanta has a fifty-two week low of $114.31 and a fifty-two week high of $184.44. The stock's fifty day moving average is $133.20 and its two-hundred day moving average is $148.42. Novanta (NASDAQ:NOVT - Get Rating) last posted its earnings results on Tuesday, May 10th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.10. The company had revenue of $204.20 million for the quarter, compared to analyst estimates of $195.96 million. Novanta had a return on equity of 19.70% and a net margin of 7.73%. Novanta's revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share.


Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of Novanta during the first quarter valued at $3,472,000. Charles Schwab Investment Management Inc. lifted its position in Novanta by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 292,315 shares of the technology company's stock worth $41,594,000 after buying an additional 9,388 shares during the period. Lazard Asset Management LLC lifted its position in Novanta by 23.1% during the first quarter. Lazard Asset Management LLC now owns 976 shares of the technology company's stock worth $138,000 after buying an additional 183 shares during the period. Zions Bancorporation N.A. lifted its position in Novanta by 33.7% during the first quarter. Zions Bancorporation N.A. now owns 7,523 shares of the technology company's stock worth $1,070,000 after buying an additional 1,896 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in Novanta by 7.1% during the first quarter. Loomis Sayles & Co. L P now owns 362,800 shares of the technology company's stock worth $51,623,000 after buying an additional 24,072 shares during the period. 94.10% of the stock is currently owned by institutional investors and hedge funds.

Novanta Company Profile (Get Rating)

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 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.

Featured Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Novanta right now?

Before you consider Novanta, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Novanta wasn't on the list.

While Novanta currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.