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.

Novanta Price Performance

Shares of NASDAQ:NOVT traded down $0.42 on Thursday, reaching $181.52. 169,551 shares of the company were exchanged, compared to its average volume of 140,863. The company has a 50-day moving average of $174.22 and a 200-day moving average of $169.85. 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 firm has a market cap 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 issued its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The firm had revenue of $244.40 million during the quarter, compared to analysts’ expectations of $242.33 million. During the same period in the previous year, the firm posted $0.85 earnings per share. Novanta’s revenue was up 10.3% on a year-over-year basis. Equities analysts forecast that Novanta will post 3.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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.

Insider Buying and Selling

In related news, CFO Robert Buckley sold 4,379 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $176.20, for a total value of $771,579.80. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $21,217,827.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 9,150 shares of company stock worth $1,608,936. 1.20% of the stock is owned by corporate insiders.

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.