Media stories about Novanta (NASDAQ:NOVT) have been trending somewhat positive recently, according to Accern Sentiment. The research firm ranks the sentiment of news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Novanta earned a daily sentiment score of 0.07 on Accern’s scale. Accern also assigned news stories about the technology company an impact score of 45.5076210956737 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
A number of brokerages have issued reports on NOVT. BidaskClub upgraded shares of Novanta from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 19th. Zacks Investment Research upgraded shares of Novanta from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Thursday, March 22nd. Robert W. Baird restated a “buy” rating on shares of Novanta in a research report on Thursday, March 1st. Finally, William Blair began coverage on shares of Novanta in a research report on Tuesday, February 27th. They set an “outperform” rating on the stock.
Shares of NASDAQ:NOVT opened at $57.20 on Friday. Novanta has a 12-month low of $26.00 and a 12-month high of $60.30. The company has a market cap of $1,921.57, a price-to-earnings ratio of 35.75 and a beta of 1.47. The company has a current ratio of 2.93, a quick ratio of 2.00 and a debt-to-equity ratio of 0.72.
Novanta (NASDAQ:NOVT) last announced its earnings results on Wednesday, February 28th. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. Novanta had a net margin of 9.80% and a return on equity of 18.52%. The firm had revenue of $146.92 million for the quarter, compared to analyst estimates of $146.35 million. During the same quarter in the prior year, the business posted $0.35 EPS. The business’s revenue was up 48.6% compared to the same quarter last year. equities analysts expect that Novanta will post 1.92 earnings per share for the current fiscal year.
In other Novanta news, CFO Robert Buckley sold 8,850 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $55.55, for a total transaction of $491,617.50. Following the transaction, the chief financial officer now owns 184,187 shares in the company, valued at approximately $10,231,587.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 26,394 shares of company stock worth $1,480,917. Company insiders own 8.30% of the company’s stock.
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Novanta Company Profile
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.