NASDAQ:NOVT - Get Free Report ) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.680-0.740 for the period, compared to the consensus EPS estimate of 0.730. The company issued revenue guidance of $230.0 million-$235.0 million, compared to the consensus revenue estimate of $241.9 million.
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Novanta Trading Down 2.0 % Shares of NOVT stock traded down $3.27 during trading hours on Wednesday, reaching $158.57. 198,662 shares of the stock were exchanged, compared to its average volume of 133,315. The company has a current ratio of 2.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.52. Novanta has a 12-month low of $111.20 and a 12-month high of $187.60. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 78.11 and a beta of 1.35. The company's 50-day moving average price is $166.79 and its 200-day moving average price is $157.42.
Novanta (NASDAQ:NOVT - Get Free Report ) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.17. Novanta had a return on equity of 17.15% and a net margin of 8.27%. The firm had revenue of $230.92 million for the quarter, compared to the consensus estimate of $227.85 million. During the same period in the prior year, the business posted $0.74 earnings per share. The company's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Novanta will post 3.22 earnings per share for the current year.
Insider Transactions at Novanta In other Novanta news, CEO Matthijs Glastra sold 5,000 shares of the business's stock in a transaction dated Monday, April 1st. The shares were 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 of the company's stock, valued at approximately $4,226,384. The transaction was disclosed in a filing with the SEC, which is available through this link . In other Novanta news, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $172.00, for a total transaction of $860,000.00. Following the transaction, the chief executive officer now directly owns 24,572 shares in the company, valued at approximately $4,226,384. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink . Also, CFO Robert Buckley sold 3,000 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $170.40, for a total transaction of $511,200.00. Following the transaction, the chief financial officer now directly 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.
About Novanta (
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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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