Novanta (NASDAQ:NOVT – Get Rating) issued its quarterly earnings results on Tuesday. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.06, Briefing.com reports. The firm had revenue of $215.36 million during the quarter, compared to analyst estimates of $209.07 million. Novanta had a return on equity of 20.27% and a net margin of 7.99%. The firm's quarterly revenue was up 28.6% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS.

Novanta Stock Up 0.8 %

Shares of NOVT traded up $1.16 during mid-day trading on Thursday, reaching $152.69. The company's stock had a trading volume of 826 shares, compared to its average volume of 643,734. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 85.13 and a beta of 1.16. The business has a fifty day moving average of $130.01 and a 200 day moving average of $131.87. The company has a quick ratio of 1.29, a current ratio of 2.05 and a debt-to-equity ratio of 0.77. Novanta has a 1 year low of $110.84 and a 1 year high of $184.44.

Institutional Trading of Novanta

Several hedge funds and other institutional investors have recently modified their holdings of NOVT. Wellington Management Group LLP boosted its position in shares of Novanta by 32.4% in the first quarter. Wellington Management Group LLP now owns 281,600 shares of the technology company's stock worth $40,069,000 after buying an additional 68,846 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Novanta by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 516,322 shares of the technology company's stock worth $73,467,000 after buying an additional 33,454 shares during the period. Invesco Ltd. boosted its position in shares of Novanta by 7.2% in the first quarter. Invesco Ltd. now owns 404,262 shares of the technology company's stock worth $57,523,000 after buying an additional 27,161 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Novanta in the first quarter worth $3,472,000. Finally, State Street Corp boosted its position in shares of Novanta by 2.6% in the first quarter. State Street Corp now owns 712,180 shares of the technology company's stock worth $101,336,000 after buying an additional 17,998 shares during the period. Institutional investors and hedge funds own 94.10% of the company's stock.

Wall Street Analyst Weigh In

Novanta Company Profile

(Get Rating)

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products serving photonics-based applications for industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

Featured Articles

• Get a free copy of the StockNews.com research report on Novanta (NOVT)
• Solar Stocks Shine Brightly After Passage Of Clean Energy Bill
• 3 Stable Growth Stocks for Bumpy Times
• Large And Small Oil-And-Gas Stocks See Post-Earnings Bounce
• The 2 Dow Stocks with Decade-Long Win Streaks on the Line
• Could Rite Aid Be an Acquisition Target, Again?

Receive News & Ratings for Novanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novanta and related companies with MarketBeat.com's FREE daily email newsletter.