Shares of Novanta Inc. (NASDAQ:NOVT – Get Free Report) traded up 9.6% during trading on Tuesday . The company traded as high as $173.37 and last traded at $171.50. 132,408 shares changed hands during trading, a decline of 5% from the average session volume of 139,823 shares. The stock had previously closed at $156.50.
Novanta Trading Up 8.7 %
The company has a quick ratio of 1.77, a current ratio of 2.83 and a debt-to-equity ratio of 0.75. The business’s fifty day moving average is $167.11 and its 200 day moving average is $165.25. The stock has a market cap of $6.11 billion, a PE ratio of 88.18 and a beta of 1.31.
Novanta (NASDAQ:NOVT – Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.57 by $0.17. Novanta had a return on equity of 16.58% and a net margin of 7.76%. The business had revenue of $230.92 million for the quarter, compared to analyst estimates of $227.85 million. During the same quarter in the previous year, the company earned $0.74 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts predict that Novanta Inc. will post 3.26 earnings per share for the current year.
Insiders Place Their Bets
Institutional Trading of Novanta
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Novanta by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock valued at $674,860,000 after purchasing an additional 45,937 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Novanta by 299.9% during the fourth quarter. Wells Fargo & Company MN now owns 61,912 shares of the technology company’s stock valued at $10,427,000 after buying an additional 46,430 shares during the period. Clearbridge Investments LLC boosted its position in Novanta by 75.3% during the fourth quarter. Clearbridge Investments LLC now owns 310,032 shares of the technology company’s stock worth $52,212,000 after acquiring an additional 133,138 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Novanta in the 1st quarter worth approximately $780,000. Finally, Allianz Asset Management GmbH grew its stake in Novanta by 222.6% in the 4th quarter. Allianz Asset Management GmbH now owns 10,000 shares of the technology company’s stock worth $1,684,000 after acquiring an additional 6,900 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.
About Novanta
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.
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