Novanta Inc. (NASDAQ:NOVT – Get Free Report) traded up 9.6% during mid-day trading on Tuesday . The company traded as high as $173.37 and last traded at $171.50. 132,408 shares traded hands during trading, a decline of 5% from the average session volume of 139,823 shares. The stock had previously closed at $156.50.
Novanta Price Performance
The company’s 50 day moving average price is $167.11 and its 200 day moving average price is $165.25. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.77 and a current ratio of 2.83. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 88.18 and a beta of 1.31.
Novanta (NASDAQ:NOVT – Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17. The firm had revenue of $230.92 million during the quarter, compared to analysts’ expectations of $227.85 million. Novanta had a return on equity of 16.58% and a net margin of 7.76%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.74 EPS. On average, equities research analysts predict that Novanta Inc. will post 3.26 earnings per share for the current fiscal year.
Insider Activity
Hedge Funds Weigh In On Novanta
Several hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Novanta in the 1st quarter valued at about $32,000. First Horizon Advisors Inc. lifted its holdings in Novanta by 67.5% in the fourth quarter. First Horizon Advisors Inc. now owns 211 shares of the technology company’s stock valued at $36,000 after buying an additional 85 shares during the period. Headlands Technologies LLC bought a new position in Novanta in the first quarter valued at approximately $52,000. Signaturefd LLC grew its holdings in Novanta by 38.3% during the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after acquiring an additional 100 shares during the period. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Novanta during the 1st quarter valued at $81,000. Institutional investors own 98.35% of the company’s stock.
Novanta Company Profile
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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