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Q2 2018 Earnings Forecast for Novanta Inc. Issued By William Blair (NOVT)

Novanta Inc. (NASDAQ:NOVT) – Research analysts at William Blair raised their Q2 2018 EPS estimates for Novanta in a report issued on Wednesday, May 9th. William Blair analyst B. Drab now forecasts that the technology company will post earnings of $0.49 per share for the quarter, up from their previous estimate of $0.46. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Novanta’s FY2018 earnings at $1.97 EPS.

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Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.07. Novanta had a net margin of 5.14% and a return on equity of 20.19%. The firm had revenue of $147.00 million during the quarter, compared to analysts’ expectations of $139.55 million. During the same period last year, the business earned $0.31 earnings per share. Novanta’s revenue was up 34.9% compared to the same quarter last year.

NOVT has been the subject of several other reports. 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 price objective for the company in a research report on Thursday, March 22nd. Finally, Robert W. Baird restated a “buy” rating on shares of Novanta in a research report on Thursday, March 1st.

Novanta stock opened at $62.40 on Thursday. The stock has a market cap of $2.14 billion, a PE ratio of 34.86 and a beta of 1.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.00 and a current ratio of 2.93.

In related news, CFO Robert Buckley sold 8,850 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $55.55, for a total transaction of $491,617.50. Following the completion of the sale, the chief financial officer now directly owns 184,187 shares in the company, valued at $10,231,587.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 26,394 shares of company stock valued at $1,480,917. 6.70% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in NOVT. BlackRock Inc. boosted its stake in Novanta by 1.4% during the first quarter. BlackRock Inc. now owns 2,047,772 shares of the technology company’s stock worth $106,792,000 after buying an additional 27,352 shares during the period. KAMES CAPITAL plc purchased a new position in Novanta during the first quarter worth about $14,613,000. Eagle Boston Investment Management Inc. boosted its stake in Novanta by 2.5% during the first quarter. Eagle Boston Investment Management Inc. now owns 175,671 shares of the technology company’s stock worth $9,161,000 after buying an additional 4,300 shares during the period. Neuberger Berman Group LLC boosted its stake in Novanta by 22.9% during the first quarter. Neuberger Berman Group LLC now owns 1,317,701 shares of the technology company’s stock worth $68,718,000 after buying an additional 245,115 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new position in Novanta during the first quarter worth about $4,249,000. Hedge funds and other institutional investors own 81.93% of the company’s stock.

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.

Novanta (NOVT) Receives Daily Media Sentiment Score of 0.07

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.

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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.

Insider Buying and Selling by Quarter for Novanta (NASDAQ:NOVT)