Novanta (NASDAQ:NOVT) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Novanta (NASDAQ:NOVT) announced its earnings results on Tuesday. The technology company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.57 by $0.17, Briefing.com reports. The company had revenue of $230.92 million during the quarter, compared to the consensus estimate of $227.85 million. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. Novanta updated its Q2 guidance to $0.68 to $0.74 EPS.

Novanta Stock Performance

Shares of Novanta stock traded down $3.94 during trading hours on Wednesday, hitting $157.90. 28,403 shares of the company’s stock traded hands, compared to its average volume of 131,368. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.98 and a quick ratio of 1.91. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 79.72 and a beta of 1.35. Novanta has a 12-month low of $111.20 and a 12-month high of $187.60. The company has a fifty day simple moving average of $166.97 and a 200-day simple moving average of $157.41.

Insider Activity

In other news, CEO Matthijs Glastra sold 5,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $172.00, for a total transaction of $860,000.00. Following the transaction, the chief executive officer now owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Novanta news, CEO Matthijs Glastra sold 5,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $172.00, for a total transaction of $860,000.00. Following the sale, the chief executive officer now directly owns 24,572 shares of the company’s stock, valued at $4,226,384. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert Buckley sold 3,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $170.40, for a total transaction of $511,200.00. Following the transaction, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $20,519,397.60. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

About Novanta

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.