Equities analysts expect Novanta Inc (NASDAQ:NOVT) to report sales of $154.35 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Novanta’s earnings. The highest sales estimate is $154.52 million and the lowest is $154.18 million. Novanta posted sales of $146.30 million in the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The business is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, November 6th.

On average, analysts expect that Novanta will report full-year sales of $604.76 million for the current year, with estimates ranging from $604.04 million to $605.47 million. For the next fiscal year, analysts forecast that the firm will post sales of $644.48 million, with estimates ranging from $643.48 million to $645.48 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Novanta.

Novanta (NASDAQ:NOVT) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. Novanta had a return on equity of 19.99% and a net margin of 5.14%. The business had revenue of $150.40 million for the quarter, compared to the consensus estimate of $147.26 million. During the same period last year, the business posted $0.41 EPS. The company’s revenue was up 26.3% compared to the same quarter last year.

Several analysts have commented on the company. Zacks Investment Research downgraded Novanta from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine downgraded Novanta from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. Finally, BidaskClub downgraded Novanta from a “buy” rating to a “hold” rating in a research note on Saturday, September 29th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Novanta currently has an average rating of “Hold” and a consensus price target of $64.00.

NOVT traded up $2.33 during trading on Friday, hitting $64.11. 199,900 shares of the company’s stock traded hands, compared to its average volume of 219,743. The company has a current ratio of 3.18, a quick ratio of 2.14 and a debt-to-equity ratio of 0.61. Novanta has a 12-month low of $43.65 and a 12-month high of $78.85. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 39.55 and a beta of 1.59.

In other Novanta news, CFO Robert Buckley sold 13,487 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $72.90, for a total transaction of $983,202.30. Following the sale, the chief financial officer now directly owns 157,027 shares in the company, valued at approximately $11,447,268.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Peter L. Chang sold 3,680 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $70.63, for a total value of $259,918.40. Following the sale, the vice president now owns 36,132 shares in the company, valued at $2,552,003.16. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of NOVT. Envestnet Asset Management Inc. boosted its stake in shares of Novanta by 58.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,571 shares of the technology company’s stock worth $160,000 after buying an additional 951 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Novanta by 430.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,650 shares of the technology company’s stock worth $182,000 after buying an additional 2,150 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Novanta by 2,010.2% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,102 shares of the technology company’s stock worth $158,000 after buying an additional 2,955 shares during the last quarter. Zions Bancorporation purchased a new position in shares of Novanta in the 2nd quarter worth $220,000. Finally, Quantbot Technologies LP boosted its stake in shares of Novanta by 91.7% in the 1st quarter. Quantbot Technologies LP now owns 3,806 shares of the technology company’s stock worth $198,000 after buying an additional 1,821 shares during the last quarter. Institutional investors and hedge funds own 85.75% of the company’s stock.

Novanta Company Profile

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

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