Novanta Inc (NASDAQ:NOVT) – Analysts at William Blair issued their Q1 2019 earnings per share estimates for Novanta in a note issued to investors on Wednesday, January 9th. William Blair analyst B. Drab anticipates that the technology company will post earnings of $0.52 per share for the quarter. William Blair also issued estimates for Novanta’s Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.59 EPS and FY2020 earnings at $2.63 EPS.
NOVT has been the subject of several other research reports. BidaskClub raised Novanta from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. ValuEngine cut Novanta from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. Finally, Zacks Investment Research cut Novanta from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Novanta presently has an average rating of “Buy” and a consensus target price of $67.00.
Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. Novanta had a return on equity of 18.95% and a net margin of 6.18%. The company had revenue of $160.79 million during the quarter, compared to analysts’ expectations of $154.43 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year.
In other news, Director Stephen W. Bershad sold 500,000 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $68.15, for a total value of $34,075,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthijs Glastra sold 20,000 shares of the stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $74.00, for a total value of $1,480,000.00. Following the completion of 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. Corporate insiders own 6.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in NOVT. Vanguard Group Inc. lifted its holdings in shares of Novanta by 36.3% in the third quarter. Vanguard Group Inc. now owns 2,951,177 shares of the technology company’s stock valued at $201,861,000 after buying an additional 785,554 shares during the period. Vanguard Group Inc lifted its holdings in shares of Novanta by 36.3% in the third quarter. Vanguard Group Inc now owns 2,951,177 shares of the technology company’s stock valued at $201,861,000 after buying an additional 785,554 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Novanta by 318.1% in the third quarter. Alliancebernstein L.P. now owns 732,262 shares of the technology company’s stock valued at $50,087,000 after buying an additional 557,119 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Novanta by 29.2% in the third quarter. Neuberger Berman Group LLC now owns 1,762,519 shares of the technology company’s stock valued at $120,556,000 after buying an additional 398,663 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of Novanta in the second quarter valued at $18,043,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
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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