Novanta Inc. (NASDAQ:NOVT – Get Ranking) gapped up previous to buying and selling on Friday . The inventory had beforehand closed at $136.91, however opened at $152.13. Novanta shares final traded at $152.27, with a quantity of three,486 shares traded.
Analyst Rankings Modifications
NOVT has been the subject of plenty of latest analyst experiences. TheStreet downgraded shares of Novanta from a “b-” ranking to a “c+” ranking in a analysis report on Wednesday, June 1st. StockNews.com assumed protection on shares of Novanta in a report on Thursday, March thirty first. They set a “maintain” ranking on the inventory. Lastly, William Blair upgraded shares of Novanta from a “market carry out” ranking to an “outperform” ranking in a report on Wednesday, Might eleventh.
Novanta Inventory Efficiency
The agency has a market capitalization of $5.36 billion, a PE ratio of 92.64 and a beta of 1.07. The corporate has a debt-to-equity ratio of 0.77, a present ratio of two.05 and a fast ratio of 1.29. The corporate’s fifty day easy shifting common is $123.10 and its 200 day easy shifting common is $132.16.
Novanta (NASDAQ:NOVT – Get Ranking) final introduced its earnings outcomes on Tuesday, Might tenth. The expertise firm reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The enterprise had income of $204.20 million for the quarter, in comparison with the consensus estimate of $195.96 million. Novanta had a web margin of seven.73% and a return on fairness of 19.41%. Novanta’s quarterly income was up 25.6% on a year-over-year foundation. Throughout the identical interval final yr, the agency posted $0.58 earnings per share. As a bunch, equities analysis analysts count on that Novanta Inc. will put up 3 EPS for the present fiscal yr.
Institutional Inflows and Outflows
Various institutional traders and hedge funds have lately purchased and offered shares of NOVT. Meeder Asset Administration Inc. bought a brand new place in Novanta in the course of the first quarter valued at $25,000. UMB Financial institution NA MO purchased a brand new stake in Novanta within the 4th quarter price about $56,000. Fifth Third Bancorp elevated its holdings in Novanta by 33.5% within the 4th quarter. Fifth Third Bancorp now owns 438 shares of the expertise firm’s inventory price $77,000 after shopping for a further 110 shares within the final quarter. Lazard Asset Administration LLC elevated its holdings in Novanta by 23.1% within the 1st quarter. Lazard Asset Administration LLC now owns 976 shares of the expertise firm’s inventory price $138,000 after shopping for a further 183 shares within the final quarter. Lastly, Profund Advisors LLC purchased a brand new stake in Novanta within the 4th quarter price about $211,000. 94.10% of the inventory is at the moment owned by institutional traders.
Novanta Firm Profile
Novanta Inc, along with its subsidiaries, designs, manufactures, markets, and sells photonics, imaginative and prescient, and precision movement elements and sub-systems to unique tools producers within the medical and industrial markets worldwide. The corporate’s Photonics section provides photonics-based options, together with laser scanning and beam supply, CO2 laser, strong state laser, ultrafast laser, and optical gentle engine merchandise serving photonics-based purposes for industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
Obtain Information & Rankings for Novanta Every day – Enter your electronic mail deal with under to obtain a concise every day abstract of the newest information and analysts’ rankings for Novanta and associated firms with MarketBeat.com’s FREE every day electronic mail publication.