Novanta (NOVT) Set to Announce Quarterly Earnings on Wednesday

Novanta (NASDAQ:NOVT) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, February 28th. Analysts expect the company to announce earnings of $0.41 per share for the quarter.

Shares of Novanta (NOVT) opened at $54.70 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.93 and a debt-to-equity ratio of 0.76. Novanta has a fifty-two week low of $23.75 and a fifty-two week high of $60.30. The firm has a market capitalization of $1,890.00, a P/E ratio of 32.56 and a beta of 1.33.

NOVT has been the topic of several recent analyst reports. BidaskClub downgraded Novanta from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Robert W. Baird initiated coverage on Novanta in a report on Thursday, December 7th. They issued an “outperform” rating and a $54.00 price target on the stock.

In other Novanta news, Director Stephen W. Bershad sold 500,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $52.55, for a total transaction of $26,275,000.00. Following the transaction, the director now directly owns 1,711,648 shares in the company, valued at approximately $89,947,102.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.30% of the company’s stock.

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About Novanta

Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.

Earnings History for Novanta (NASDAQ:NOVT)

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