Novanta (NASDAQ:NOVT) Updates Q2 Earnings Guidance

Novanta (NASDAQ:NOVT - Get Free Report) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.68 to $0.74 for the period, compared to the consensus EPS estimate of $0.73. The company issued revenue guidance of $230 million to $235 million, compared to the consensus revenue estimate of $241.89 million.

Novanta Trading Up 0.4 %

Shares of NOVT traded up $0.70 during midday trading on Tuesday, hitting $161.84. The stock had a trading volume of 276,637 shares, compared to its average volume of 132,573. Novanta has a fifty-two week low of $111.20 and a fifty-two week high of $187.60. The business has a 50-day simple moving average of $166.97 and a two-hundred day simple moving average of $157.41. The company has a current ratio of 2.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.52. The firm has a market cap of $5.80 billion, a P/E ratio of 79.72 and a beta of 1.35.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.63 EPS for the quarter, hitting analysts' consensus estimates of $0.63. The firm had revenue of $211.60 million for the quarter, compared to the consensus estimate of $210.90 million. Novanta had a return on equity of 17.15% and a net margin of 8.27%. The firm's revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. As a group, equities analysts forecast that Novanta will post 3.22 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Matthijs Glastra sold 5,000 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $172.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief executive officer now owns 24,572 shares in the company, valued at approximately $4,226,384. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $172.00, for a total value of $860,000.00. Following the transaction, the chief executive officer now owns 24,572 shares of the company's stock, valued at $4,226,384. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert Buckley sold 1,500 shares of the business's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $160.23, for a total transaction of $240,345.00. Following the completion of the sale, the chief financial officer now owns 120,159 shares of the company's stock, valued at $19,253,076.57. The disclosure for this sale can be found here. Insiders have sold 9,500 shares of company stock valued at $1,611,545 over the last three months. 1.20% of the stock is currently owned by insiders.

About Novanta

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.