Novanta (NASDAQ:NOVT) issued its quarterly earnings results on Tuesday. The technology company reported $0.54 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.54, Briefing.com reports. The business had revenue of $155.10 million for the quarter, compared to analyst estimates of $154.47 million. Novanta had a return on equity of 19.26% and a net margin of 7.92%. Novanta’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share.
Novanta stock traded up $1.40 during mid-day trading on Tuesday, reaching $78.66. 17,082 shares of the company’s stock were exchanged, compared to its average volume of 155,359. The business has a fifty day simple moving average of $88.49. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 36.42 and a beta of 1.49. Novanta has a one year low of $55.68 and a one year high of $96.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.83 and a quick ratio of 1.78.
A number of analysts recently commented on NOVT shares. BidaskClub lowered Novanta from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Zacks Investment Research lowered Novanta from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th.
Novanta Company Profile
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 laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
Further Reading: Cost of Goods Sold (COGS)
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