Novanta (NASDAQ:NOVT - Get Free Report) posted its quarterly earnings results on Tuesday. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.17, Briefing.com reports. The company had revenue of $230.92 million during the quarter, compared to analyst estimates of $227.85 million. Novanta had a net margin of 8.27% and a return on equity of 17.15%. Novanta's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS. Novanta updated its Q2 guidance to $0.68 to $0.74 EPS.
Novanta Stock Performance
NASDAQ NOVT traded down $3.27 on Wednesday, reaching $158.57. 198,662 shares of the company's stock traded hands, compared to its average volume of 133,315. The stock has a 50 day moving average price of $166.79 and a 200-day moving average price of $157.42. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 78.11 and a beta of 1.35. Novanta has a fifty-two week low of $111.20 and a fifty-two week high of $187.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.91 and a current ratio of 2.98.
Insider Transactions at Novanta
In other news, CFO Robert Buckley sold 3,000 shares of Novanta stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $170.40, for a total transaction of $511,200.00. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares of the company's stock, valued at approximately $20,519,397.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Matthijs Glastra sold 5,000 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $172.00, for a total value of $860,000.00. Following the completion of the sale, the chief executive officer now directly owns 24,572 shares in the company, valued at $4,226,384. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Buckley sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $170.40, for a total value of $511,200.00. Following the transaction, the chief financial officer now owns 120,419 shares in the company, valued at approximately $20,519,397.60. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.
Novanta Company Profile
(
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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.
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