Novanta (NASDAQ:NOVT) Updates Q4 2024 Earnings Guidance

Novanta (NASDAQ:NOVT) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.700-0.740 for the period, compared to the consensus EPS estimate of 0.980. The company issued revenue guidance of $237.0 million-$242.0 million, compared to the consensus revenue estimate of $264.0 million. Novanta also updated its FY 2024 guidance to 3.020-3.060 EPS.

Analysts Set New Price Targets

Separately, Robert W. Baird cut their price objective on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating on the stock in a research note on Wednesday.

Novanta Price Performance

NOVT traded down $0.42 during trading on Thursday, reaching $181.52. The stock had a trading volume of 169,551 shares, compared to its average volume of 140,863. The stock has a 50 day moving average of $174.22 and a two-hundred day moving average of $169.85. The company has a quick ratio of 1.73, a current ratio of 2.77 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 104.92 and a beta of 1.29. Novanta has a 1-year low of $119.64 and a 1-year high of $187.12.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The business had revenue of $244.40 million during the quarter, compared to analyst estimates of $242.33 million. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Novanta will post 3.3 EPS for the current fiscal year.

Insider Activity

In other Novanta news, CFO Robert Buckley sold 1,111 shares of Novanta stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $180.45, for a total value of $200,479.95. Following the transaction, the chief financial officer now owns 120,419 shares in the company, valued at approximately $21,729,608.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 9,150 shares of company stock worth $1,608,936. Corporate insiders own 1.20% 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.