Novanta (NASDAQ:NOVT) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.07-2.12 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.00. The company issued revenue guidance of $610-614 million, compared to the consensus revenue estimate of $605.10 million.
NOVT stock traded up $1.84 during trading on Thursday, hitting $77.89. The stock had a trading volume of 186,556 shares, compared to its average volume of 229,029. Novanta has a 1-year low of $43.65 and a 1-year high of $78.85. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 48.68 and a beta of 1.72. 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 (NASDAQ:NOVT) last announced its earnings results on Tuesday, November 6th. The technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.09. Novanta had a net margin of 6.18% and a return on equity of 19.30%. The firm had revenue of $160.79 million during the quarter, compared to the consensus estimate of $154.43 million. During the same quarter in the previous year, the company posted $0.45 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, research analysts predict that Novanta will post 2.1 earnings per share for the current year.
In other news, VP Peter L. Chang sold 3,680 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $70.63, for a total transaction of $259,918.40. Following the completion of the transaction, the vice president now owns 36,132 shares of the company’s stock, valued at approximately $2,552,003.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthijs Glastra sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $74.00, for a total transaction of $1,480,000.00. Following the transaction, the chief executive officer now directly owns 71,107 shares of the company’s stock, valued at approximately $5,261,918. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,167 shares of company stock valued at $2,723,121. Corporate insiders own 6.70% of the company’s stock.
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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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