Novanta (NOVT) Earning Somewhat Positive News Coverage, Report Shows

Headlines about Novanta (NASDAQ:NOVT) have been trending somewhat positive on Wednesday, Accern reports. Accern identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Novanta earned a news sentiment score of 0.06 on Accern’s scale. Accern also gave news coverage about the technology company an impact score of 45.2204118276687 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

Shares of Novanta (NASDAQ:NOVT) opened at $44.50 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.93 and a quick ratio of 2.00. Novanta has a 1 year low of $20.05 and a 1 year high of $55.10. The stock has a market cap of $1,611.99, a P/E ratio of 30.66 and a beta of 1.27.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. Novanta had a net margin of 5.72% and a return on equity of 9.85%. The company had revenue of $146.30 million during the quarter, compared to the consensus estimate of $132.10 million. During the same quarter last year, the company earned $0.29 earnings per share. Novanta’s revenue for the quarter was up 49.5% on a year-over-year basis. equities research analysts forecast that Novanta will post 1.56 EPS for the current fiscal year.

Separately, BidaskClub downgraded shares of Novanta from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

In other Novanta news, Director Stephen W. Bershad sold 500,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $52.55, for a total value of $26,275,000.00. Following the completion of the sale, the director now owns 1,711,648 shares of the company’s stock, valued at $89,947,102.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.30% of the stock is owned by company insiders.

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About Novanta

Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.

Insider Buying and Selling by Quarter for Novanta (NASDAQ:NOVT)

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