NASDAQ:NOVTNovanta Stock Price, Forecast & News

Novanta's stock was trading at $79.04 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization. Since then, NOVT shares have increased by 31.1% and is now trading at $103.65. View which stocks have been most impacted by Coronavirus.

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Novanta in the last year. There are currently 2 hold ratings for the stock, resulting in a consensus recommendation of "Hold." View analyst ratings for Novanta.

Novanta is scheduled to release its next quarterly earnings announcement on Tuesday, August 4th 2020. View our earnings forecast for Novanta.

Novanta Inc (NASDAQ:NOVT) released its quarterly earnings results on Tuesday, May, 12th. The technology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.32 by $0.19. The technology company had revenue of $155.50 million for the quarter, compared to analysts' expectations of $142.61 million. Novanta had a net margin of 6.48% and a return on equity of 18.71%. Novanta's revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. View Novanta's earnings history.

Novanta issued an update on its second quarter 2020 Pre-Market earnings guidance on Tuesday, May, 12th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $130-142 million, compared to the consensus revenue estimate of $126.29 million.

2 brokers have issued 12 month price objectives for Novanta's stock. Their forecasts range from $90.00 to $90.00. On average, they expect Novanta's stock price to reach $90.00 in the next year. This suggests that the stock has a possible downside of 13.2%. View analysts' price targets for Novanta.

News articles about NOVT stock have been trending negative recently, according to InfoTrie Sentiment. The research firm ranks the sentiment of media coverage by monitoring more than six thousand blog and news sources in real time. The firm ranks coverage of public companies on a scale of negative five to five, with scores nearest to five being the most favorable. Novanta earned a media sentiment score of -2.1 on InfoTrie's scale. They also gave news headlines about the technology company a news buzz of 0.0 out of 10, meaning that recent media coverage is extremely unlikely to have an impact on the stock's share price in the next few days. View the latest news about Novanta.

Novanta saw a drop in short interest in June. As of June 30th, there was short interest totaling 408,500 shares, a drop of 12.7% from the June 15th total of 468,100 shares. Based on an average trading volume of 157,300 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.2% of the company's stock are sold short. View Novanta's Current Options Chain.

Some companies that are related to Novanta include CAE (CAE), Energizer (ENR), Integer (ITGR), Spectrum Brands (SPB), Atkore International Group (ATKR), FuelCell Energy (FCEL), Security Devices International (SDEV), Ultralife (ULBI), CBAK Energy Technology (CBAT), Flux Power (FLUX), Sono-Tek (SOTK), Polar Power (POLA), Evans & Sutherland Computer (ESCC), Manhattan Scientifics (MHTX) and Environmental Tectonics (ETCC). View all competitors.

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), Broadcom (AVGO), Lam Research (LRCX), Altria Group (MO), Palo Alto Networks (PANW), Arista Networks (ANET) and Netflix (NFLX).

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

Novanta's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Anderson Hoagland & Co. (0.06%) and Envestnet Asset Management Inc. (0.04%). Company insiders that own Novanta stock include Brian S Young, Matthijs Glastra, Peter L Chang, Robert Buckley and Stephen W Bershad. View institutional ownership trends for Novanta.

NOVT stock was bought by a variety of institutional investors in the last quarter, including Envestnet Asset Management Inc., and Anderson Hoagland & Co.. View insider buying and selling activity for Novanta.

Shares of NOVT can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of NOVT stock can currently be purchased for approximately $103.65.

Novanta has a market capitalization of $3.64 billion and generates $626.10 million in revenue each year. The technology company earns $40.77 million in net income (profit) each year or $2.14 on an earnings per share basis. Novanta employs 2,290 workers across the globe.

The official website for Novanta is www.novanta.com.

Novanta's mailing address is 125 Middlesex Turnpike, Bedford MA, 01730. The technology company can be reached via phone at 781-266-5700 or via email at [email protected]