Novanta (NOVT) Stock Forecast, Price & News

0 brokers have issued twelve-month target prices for Novanta's shares. Their NOVT share price forecasts range from $161.00 to $161.00. On average, they expect the company's share price to reach $161.00 in the next twelve months. This suggests that the stock has a possible downside of 3.2%.
View analysts price targets for NOVT or view top-rated stocks among Wall Street analysts.

Novanta's stock was trading at $135.87 on January 1st, 2023. Since then, NOVT shares have increased by 22.4% and is now trading at $166.29.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 8th 2023.
View our NOVT earnings forecast.

Novanta Inc. (NASDAQ:NOVT) posted its earnings results on Tuesday, May, 9th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.10. The technology company earned $219.10 million during the quarter, compared to analysts' expectations of $211.22 million. Novanta had a trailing twelve-month return on equity of 19.70% and a net margin of 8.39%. The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 EPS.

ETFs with the largest weight of Novanta (NASDAQ:NOVT) stock in their portfolio include Innovator Deepwater Frontier Tech ETF (LOUP), Goldman Sachs Future Health Care Equity ETF (GDOC), ROBO Global Robotics & Automation ETF (ROBO), ROBO Global Healthcare Technology and Innovation ETF (HTEC), Franklin U.S. Small Cap Multifactor Index ETF (FLQS), Nuveen ESG Small-Cap ETF (NUSC), Pacer Lunt MidCap Multi-Factor Alternator ETF (PAMC) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG).

Novanta updated its second quarter 2023 earnings guidance on Tuesday, May, 9th. The company provided earnings per share guidance of $0.70-$0.74 for the period, compared to the consensus EPS estimate of $0.76. The company issued revenue guidance of $222.00 million-$225.00 million, compared to the consensus revenue estimate of $223.01 million.

44 employees have rated Novanta Chief Executive Officer Matthijs Glastra on Glassdoor.com. Matthijs Glastra has an approval rating of 87% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Novanta investors own include NVIDIA (NVDA), Alibaba Group (BABA), Gilead Sciences (GILD), Intuitive Surgical (ISRG), Lam Research (LRCX), Altria Group (MO), AT&T (T), Abiomed (ABMD), Advanced Micro Devices (AMD) and Broadcom (AVGO).

Novanta trades on the NASDAQ under the ticker symbol "NOVT."

Novanta's stock is owned by many different institutional and retail investors. Top institutional investors include BlackRock Inc. (11.81%), Conestoga Capital Advisors LLC (3.96%), State Street Corp (3.29%), Price T Rowe Associates Inc. MD (2.98%), William Blair Investment Management LLC (2.96%) and Wasatch Advisors LP (2.90%). Insiders that own company stock include Brian S Young, Matthijs Glastra, Peter L Chang, Robert Buckley and Thomas N Secor.
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Shares of NOVT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of NOVT stock can currently be purchased for approximately $166.29.

Novanta (NASDAQ:NOVT) has a market capitalization of $5.95 billion and generates $860.90 million in revenue each year. The technology company earns $74.05 million in net income (profit) each year or $2.05 on an earnings per share basis.

The company employs 3,000 workers across the globe.

Novanta's mailing address is 125 Middlesex Turnpike, Bedford MA, 01730. The official website for the company is www.novanta.com. The technology company can be reached via phone at (781) 266-5700, via email at investorrelations@novanta.com, or via fax at 781-266-5114.