What is William Blair’s Forecast for Novanta Q4 Earnings?

Novanta Inc. (NASDAQ:NOVT) – Investment analysts at William Blair lowered their Q4 2024 EPS estimates for shares of Novanta in a research note issued on Tuesday, November 5th. William Blair analyst B. Drab now forecasts that the technology company will earn $0.71 per share for the quarter, down from their prior forecast of $0.97. The consensus estimate for Novanta’s current full-year earnings is $3.03 per share.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The business had revenue of $244.40 million for the quarter, compared to analysts’ expectations of $242.33 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. Novanta’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 earnings per share.

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

Novanta Trading Up 0.6 %

Shares of Novanta stock opened at $182.65 on Friday. The company’s fifty day moving average price is $174.21 and its two-hundred day moving average price is $170.13. The firm has a market capitalization of $6.56 billion, a PE ratio of 109.37 and a beta of 1.29. Novanta has a 52-week low of $120.19 and a 52-week high of $187.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.73.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NOVT. GAMMA Investing LLC increased its holdings in Novanta by 33.1% during the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after purchasing an additional 59 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Novanta during the third quarter worth $49,000. Headlands Technologies LLC acquired a new stake in shares of Novanta in the first quarter valued at $52,000. nVerses Capital LLC bought a new position in shares of Novanta in the third quarter valued at about $54,000. Finally, Signaturefd LLC lifted its position in Novanta by 38.3% during the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after buying an additional 100 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Novanta

In other news, CFO Robert Buckley sold 1,111 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $180.45, for a total value of $200,479.95. Following the sale, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $21,729,608.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 9,150 shares of company stock valued at $1,608,936. 1.20% of the stock is currently owned by company insiders.

Novanta Company Profile

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.