William Blair Has Negative Estimate for Novanta Q4 Earnings

Novanta Inc. (NASDAQ:NOVT) – Investment analysts at William Blair cut their Q4 2024 earnings per share estimates for shares of Novanta in a research note issued on Tuesday, November 5th. William Blair analyst B. Drab now expects that the technology company will post earnings of $0.71 per share for the quarter, down from their previous forecast of $0.97. The consensus estimate for Novanta’s current full-year earnings is $3.30 per share.

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

Novanta Stock Up 0.6 %

Shares of Novanta stock opened at $182.65 on Friday. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 105.58 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73. Novanta has a 52-week low of $120.19 and a 52-week high of $187.12. The stock has a 50-day simple moving average of $174.21 and a 200-day simple moving average of $170.06.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $244.40 million during the quarter, compared to analyst estimates of $242.33 million. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS.

Insider Activity at Novanta

In related news, CFO Robert Buckley sold 1,111 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.45, for a total value of $200,479.95. Following the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $21,729,608.55. 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 accessible through this link. In the last ninety days, insiders have sold 9,150 shares of company stock valued at $1,608,936. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NOVT. GAMMA Investing LLC increased its position in Novanta by 33.1% in the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after buying an additional 59 shares during the period. GHP Investment Advisors Inc. bought a new position in Novanta in the 3rd quarter worth approximately $49,000. Headlands Technologies LLC bought a new position in Novanta in the 1st quarter worth approximately $52,000. nVerses Capital LLC bought a new position in Novanta in the 3rd quarter worth approximately $54,000. Finally, Signaturefd LLC increased its position in Novanta by 38.3% in the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after buying an additional 100 shares during the period. 98.35% of the stock is owned by institutional investors.

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.