Novanta (NASDAQ:NOVT) Posts Earnings Results, Beats Expectations By $0.05 EPS

Novanta (NASDAQ:NOVT) announced its earnings results on Tuesday. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05, Zacks reports. The company had revenue of $238.10 million for the quarter, compared to analyst estimates of $240.29 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS.

Novanta Stock Performance

NOVT traded up $8.18 on Tuesday, reaching $146.48. 359,075 shares of the stock were exchanged, compared to its average volume of 213,721. Novanta has a fifty-two week low of $137.91 and a fifty-two week high of $187.12. The firm has a market capitalization of $5.26 billion, a PE ratio of 87.73 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The company’s 50-day moving average price is $149.48 and its 200 day moving average price is $164.96.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their price objective on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

Novanta Company Profile

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.