Novanta (NASDAQ:NOVT) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Novanta (NASDAQ:NOVT) posted its quarterly earnings data on Tuesday. The technology company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05, Zacks reports. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business had revenue of $238.10 million during the quarter, compared to analysts’ expectations of $240.29 million. During the same quarter in the previous year, the firm earned $0.63 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year.

Novanta Trading Up 7.2 %

Shares of NASDAQ:NOVT opened at $148.25 on Wednesday. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 88.77 and a beta of 1.28. Novanta has a 12 month low of $137.91 and a 12 month high of $187.12. The company’s fifty day simple moving average is $149.48 and its 200 day simple moving average is $164.96. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their price objective on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

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.