Novanta - NOVT Stock Forecast, Price & News

1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Novanta in the last year. There are currently 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" NOVT shares.
View NOVT analyst ratings or view top-rated stocks.

Novanta's stock was trading at $135.87 at the beginning of the year. Since then, NOVT shares have increased by 17.1% and is now trading at $159.09.
View the best growth stocks for 2023 here.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 9th 2023.
View our NOVT earnings forecast.

Novanta Inc. (NASDAQ:NOVT) issued its quarterly earnings results on Wednesday, March, 1st. The technology company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.06. The technology company had revenue of $218.37 million for the quarter, compared to analysts' expectations of $215.57 million. Novanta had a trailing twelve-month return on equity of 20.18% and a net margin of 8.60%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS.

ETFs with the largest weight of Novanta (NASDAQ:NOVT) stock in their portfolio include Innovator Loup 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 first quarter 2023 earnings guidance on Wednesday, March, 1st. The company provided earnings per share guidance of $0.64-$0.65 for the period, compared to the consensus estimate of $0.74. The company issued revenue guidance of $210.00 million-$212.00 million, compared to the consensus revenue estimate of $217.55 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."

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.
Compare Top Brokerages Here.

One share of NOVT stock can currently be purchased for approximately $159.09.

Novanta (NASDAQ:NOVT) has a market capitalization of $5.69 billion and generates $860.90 million in revenue each year. The technology company earns $74.05 million in net income (profit) each year or $2.07 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.