Novanta (NASDAQ:NOVT – Get Free Report) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.68 to $0.74 for the period, compared to the consensus estimate of $0.73. The company issued revenue guidance of $230 million to $235 million, compared to the consensus revenue estimate of $241.89 million.
Novanta Stock Down 2.2 %
NOVT stock traded down $3.49 during mid-day trading on Wednesday, hitting $158.35. 130,483 shares of the company were exchanged, compared to its average volume of 132,405. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.91 and a current ratio of 2.98. Novanta has a 1-year low of $111.20 and a 1-year high of $187.60. The firm’s 50 day simple moving average is $166.97 and its 200 day simple moving average is $157.41. The firm has a market cap of $5.68 billion, a P/E ratio of 79.72 and a beta of 1.35.
Novanta (NASDAQ:NOVT – Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. The business had revenue of $230.92 million for the quarter, compared to analyst estimates of $227.85 million. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share. On average, sell-side analysts predict that Novanta will post 3.22 EPS for the current fiscal year.
Insider Activity at Novanta
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.
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