Novanta (NASDAQ:NOVT – Get Rating) posted its quarterly earnings results on Tuesday. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10, MarketWatch Earnings reports. The business had revenue of $204.20 million during the quarter, compared to analyst estimates of $195.96 million. Novanta had a return on equity of 18.86% and a net margin of 7.12%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 earnings per share. Novanta updated its Q2 guidance to $0.69 to $0.73 EPS and its Q2 2022 guidance to $0.69-$0.73 EPS.
Shares of NASDAQ NOVT traded down $1.72 during mid-day trading on Tuesday, hitting $115.27. The company had a trading volume of 786 shares, compared to its average volume of 126,561. The stock has a market cap of $4.11 billion, a P/E ratio of 84.48 and a beta of 1.11. The company has a quick ratio of 1.35, a current ratio of 2.03 and a debt-to-equity ratio of 0.82. Novanta has a 1-year low of $116.29 and a 1-year high of $184.44. The business’s 50-day moving average price is $134.09.
A number of research analysts have commented on NOVT shares. Zacks Investment Research cut Novanta from a “hold” rating to a “sell” rating in a research note on Tuesday, March 8th. StockNews.com began coverage on Novanta in a research note on Thursday, March 31st. They issued a “hold” rating on the stock.
Novanta Company Profile (Get Rating)
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 beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products serving photonics-based applications for industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
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