Novanta (NASDAQ:NOVT – Get Free Report) released its quarterly earnings data on Monday. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.08, FiscalAI reports. Novanta had a return on equity of 10.83% and a net margin of 6.00%. The company had revenue of $305.01 million during the quarter, compared to analysts’ expectations of $301.02 million.
Novanta Stock Performance
NASDAQ NOVT traded up $10.83 on Monday, reaching $145.98. The stock had a trading volume of 401,198 shares, compared to its average volume of 444,629. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.57 and a quick ratio of 3.79. The company has a market cap of $5.52 billion, a P/E ratio of 93.58 and a beta of 1.71. The firm has a fifty day moving average of $142.18 and a two-hundred day moving average of $142.57. Novanta has a 1-year low of $98.27 and a 1-year high of $176.38.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on NOVT shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a report on Tuesday, October 13th. Robert W. Baird set a $194.00 price objective on shares of Novanta in a report on Friday, August 7th. Wall Street Zen raised shares of Novanta from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Research downgraded shares of Novanta from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Novanta presently has a consensus rating of “Hold” and an average target price of $194.00.
About Novanta
Novanta develops and manufactures precision technologies used in medical and advanced industrial applications. Its products include photonics and laser components, precision motion-control systems, machine-vision technologies, and related equipment and software.
The company’s technologies are used in areas such as medical and surgical systems, life sciences, robotics, and industrial automation. Novanta serves customers internationally, with operations and customers across North America, Europe, and Asia.
Novanta was formerly known as GSI Group and adopted the Novanta name in 2016.
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