StockNews.com started coverage on shares of Novanta (NASDAQ:NOVT – Get Rating) in a report released on Thursday. The brokerage issued a hold rating on the technology company’s stock.
Novanta Stock Performance
Shares of NOVT opened at $148.31 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.53 and a current ratio of 2.56. The company has a market capitalization of $5.30 billion, a PE ratio of 71.65 and a beta of 1.31. Novanta has a 52 week low of $110.84 and a 52 week high of $173.10. The company’s 50 day moving average price is $155.49 and its 200 day moving average price is $143.22.
Novanta (NASDAQ:NOVT – Get Rating) last posted its earnings results on Wednesday, March 1st. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $218.37 million during the quarter, compared to the consensus estimate of $215.57 million. Novanta had a net margin of 8.60% and a return on equity of 20.18%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. Research analysts expect that Novanta will post 3.08 EPS for the current fiscal year.
Insiders Place Their Bets
Institutional Trading of Novanta
Institutional investors and hedge funds have recently modified their holdings of the company. Heritage Wealth Management LLC acquired a new stake in shares of Novanta in the second quarter worth $28,000. GHP Investment Advisors Inc. acquired a new stake in shares of Novanta in the third quarter worth $32,000. Ellevest Inc. lifted its stake in shares of Novanta by 50.3% in the fourth quarter. Ellevest Inc. now owns 254 shares of the technology company’s stock worth $35,000 after buying an additional 85 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Novanta by 29.9% in the fourth quarter. Assetmark Inc. now owns 369 shares of the technology company’s stock worth $50,000 after buying an additional 85 shares during the last quarter. Finally, Point72 Middle East FZE acquired a new stake in shares of Novanta in the fourth quarter worth $57,000. 97.55% of the stock is currently owned by institutional investors and hedge funds.
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.
- Get a free copy of the StockNews.com research report on Novanta (NOVT)
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