Novanta (NOVT) Earning Somewhat Favorable Media Coverage, Study Finds

Press coverage about Novanta (NASDAQ:NOVT) has been trending somewhat positive on Saturday, according to Accern. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Novanta earned a media sentiment score of 0.09 on Accern’s scale. Accern also gave media headlines about the technology company an impact score of 45.4110717327111 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

A number of equities research analysts have weighed in on the company. BidaskClub raised Novanta from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird assumed coverage on Novanta in a report on Thursday, December 7th. They issued an “outperform” rating and a $54.00 price objective on the stock.

Shares of Novanta (NASDAQ:NOVT) opened at $52.45 on Friday. Novanta has a twelve month low of $20.13 and a twelve month high of $55.10. The firm has a market capitalization of $1,705.39, a P/E ratio of 32.43 and a beta of 1.27. 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 (NASDAQ:NOVT) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.08. Novanta had a return on equity of 18.29% and a net margin of 12.45%. The company had revenue of $146.30 million for the quarter, compared to analyst estimates of $132.10 million. During the same quarter in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 49.5% compared to the same quarter last year. equities research analysts forecast that Novanta will post 1.58 earnings per share for the current fiscal year.

In other news, Director Stephen W. Bershad sold 500,000 shares of Novanta stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $52.55, for a total transaction of $26,275,000.00. Following the completion of the sale, the director now directly owns 1,711,648 shares in the company, valued at approximately $89,947,102.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.30% of the stock is currently 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.

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