Novanta (NASDAQ:NOVT) Releases Q4 2024 Earnings Guidance

by · The Markets Daily

Novanta (NASDAQ:NOVT – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. 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.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on NOVT

Novanta Trading Up 10.7 %

Shares of Novanta stock traded up $17.62 during mid-day trading on Wednesday, hitting $182.29. 194,682 shares of the stock were exchanged, compared to its average volume of 139,878. The company has a 50-day simple moving average of $174.21 and a 200 day simple moving average of $169.69. The company has a current ratio of 2.77, a quick ratio of 1.73 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 95.18 and a beta of 1.29. Novanta has a twelve month low of $111.20 and a twelve month high of $187.12.

Novanta (NASDAQ:NOVT – Get Free Report) last released its earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). Novanta had a net margin of 6.91% and a return on equity of 15.77%. 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 previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts forecast that Novanta will post 3.3 EPS for the current year.

Insider Transactions at Novanta

In other Novanta news, CFO Robert Buckley sold 4,379 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $176.20, for a total transaction of $771,579.80. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $21,217,827.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 9,150 shares of company stock valued at $1,608,936 over the last quarter. Company insiders own 1.20% of the company’s stock.

Novanta Company Profile

(Get Free Report)

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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