Novanta Stock Today

NOVT Stock  USD 173.80  1.16  0.67%   

Performance

2 of 100

 
Low
 
High
Weak

Odds Of Distress

Less than 1

 
100  
 
Zero
Very Small
Novanta is selling for under 173.80 as of the 28th of March 2024; that is 0.67 percent increase since the beginning of the trading day. The stock's last reported lowest price was 172.65. Novanta has a very small chance of experiencing financial distress in the next few years but had a somewhat weak performance during the last 90 days. Equity ratings for Novanta are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 27th of February 2024 and ending today, the 28th of March 2024. Click here to learn more.
Business Domain
Technology Hardware & Equipment
IPO Date
4th of January 2016
Category
Technology
Classification
Information Technology
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. Novanta Inc. The company has 35.85 M outstanding shares of which 1.65 M shares are now shorted by private and institutional investors with about 10.69 trading days to cover. More on Novanta

Moving together with Novanta Stock

  0.67WELX Winland HoldingsPairCorr

Moving against Novanta Stock

  0.56FCUV Focus Universal Earnings Call TomorrowPairCorr
  0.49SVREW SaverOne 2014PairCorr
  0.45WRAP Wrap Technologies Earnings Call TodayPairCorr

Novanta Stock Highlights

Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. Novanta's investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding Novanta or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
CEO, DirectorJohn Roush
Thematic IdeaElectrical Equipment (View all Themes)
Business ConcentrationElectronic Equipment, Instruments & Components, Scientific & Technical Instruments, Information Technology, NASDAQ Composite, SP Midcap 400, Electrical Equipment, Information Technology, Electronic Equipment, Instruments & Components, Scientific & Technical Instruments, Technology (View all Sectors)
Average Analyst Recommendation
Analysts covering Novanta report their recommendations after researching Novanta's financial statements, talking to executives and customers, or listening in on Novanta's conference calls. The current trade recommendation is based on an ongoing consensus estimate among financial analysts covering Novanta. The Novanta consensus assessment is calculated by taking the average forecast from all of the analysts covering Novanta.
Financial Strength
Based on the key measurements obtained from Novanta's financial statements, Novanta is performing exceptionally good at this time. It has a great probability to report excellent financial results in April. Financial strength of Novanta is based on its profitability, leverage, liquidity, source of funds, and operating efficiency.
Current ValueLast YearChange From Last Year 10 Year Trend
Asset Turnover0.860.7191
Fairly Up
Slightly volatile
Gross Profit Margin0.320.4332
Way Down
Very volatile
Total Current Liabilities106.1 M139.2 M
Way Down
Slightly volatile
Non Current Liabilities Total434.1 M413.4 M
Sufficiently Up
Slightly volatile
Total Assets1.3 B1.2 B
Sufficiently Up
Slightly volatile
Total Current Assets287.7 M415.3 M
Way Down
Slightly volatile
Novanta's financial strength is of vital concern to both outside investors and internal stakeholders. Efficiency and cost control are keys to Novanta's success, along with its ability to generate sufficient cash flow to pay bills, repay debt, and make a consistent year-to-year profit.
Financial leverage usually refers to the use of borrowed funds to amplify returns from an investment. In general, analyzing the relationship between debt to total assets helps investors to understand Novanta's financial leverage. It provides some insight into what part of Novanta's total assets is financed by creditors.
By using current balance sheet information, investors can analyze the liability, assets, and equity on Novanta's books and decide whether to invest or hold. Statistics such as return on equity (ROE), debt to equity (D/E) help investors determine how Novanta deploys its capital and how much of that capital is borrowed.
Liquidity
Novanta cash flow analysis is essential to understand how it generates and spends money over a specific period. It can also help you figure out where your money is going and how much cash you have available at a given moment. The company currently holds 404.56 M in liabilities with Debt to Equity (D/E) ratio of 0.87, which is about average as compared to similar companies. Novanta has a current ratio of 1.97, which is within standard range for the sector. Debt can assist Novanta until it has trouble settling it off, either with new capital or with free cash flow. So, Novanta's shareholders could walk away with nothing if the company can't fulfill its legal obligations to repay debt. However, a more frequent occurrence is when companies like Novanta sell additional shares at bargain prices, diluting existing shareholders. Debt, in this case, can be an excellent and much better tool for Novanta to invest in growth at high rates of return. When we think about Novanta's use of debt, we should always consider it together with cash and equity.

Other Non Cash Items

463,600
Novanta (NOVT) is traded on NASDAQ Exchange in USA. It is located in 125 Middlesex Turnpike, Bedford, MA, United States, 01730 and employs 2,900 people. Novanta is listed under Electronic Equipment, Instruments & Components category by Fama And French industry classification. The company currently falls under 'Mid-Cap' category with a current market capitalization of 6.22 B. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate Novanta's market, we take the total number of its shares issued and multiply it by Novanta's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities. Novanta conducts business under Electronic Equipment, Instruments & Components sector and is part of Information Technology industry. The entity has 35.85 M outstanding shares of which 1.65 M shares are now shorted by private and institutional investors with about 10.69 trading days to cover. Novanta currently holds about 100.49 M in cash with 109.51 M of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 2.82.
Check Novanta Probability Of Bankruptcy
Ownership Allocation
Novanta holds a total of 35.85 Million outstanding shares. The majority of Novanta outstanding shares are owned by institutional investors. These third-party entities are usually referred to as non-private investors looking to shop for positions in Novanta to benefit from reduced commissions. Consequently, institutional holders are subject to a different set of regulations than regular investors in Novanta. Please pay attention to any change in the institutional holdings of Novanta as this could imply that something significant has changed or is about to change at the company. Note that regardless of who owns the company, if the true value of the entity is less than the market is willing to pay for it, you may not be able to generate positive returns over time.
Check Novanta Ownership Details

Novanta Stock Price Odds Analysis

Attributed to a normal probability distribution, the odds of Novanta jumping above the current price in 90 days from now is about 11.23%. The Novanta probability density function shows the probability of Novanta stock to fall within a particular range of prices over 90 days. Given the investment horizon of 90 days the stock has a beta coefficient of 2.6528. This indicates as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are projected to be negative, Novanta will likely underperform. Additionally, novanta has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming NYSE Composite.
  Odds Below 173.8HorizonTargetOdds Above 173.8
88.65%90 days
 173.80 
11.23%
Based on a normal probability distribution, the odds of Novanta to move above the current price in 90 days from now is about 11.23 (This Novanta probability density function shows the probability of Novanta Stock to fall within a particular range of prices over 90 days) .

Novanta Stock Institutional Holders

Institutional Holdings refers to the ownership stake in Novanta that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Novanta's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Novanta's value.
InstituionRecorded OnShares
Jpmorgan Chase & Co2023-12-31
822 K
Geneva Capital Management2023-12-31
781.3 K
Capital Research & Mgmt Co - Division 32023-12-31
755.4 K
Goldman Sachs Group Inc2023-12-31
692.2 K
Dimensional Fund Advisors, Inc.2023-12-31
665.5 K
Allspring Global Investments Holdings, Llc2023-12-31
662.6 K
Kayne Anderson Rudnick Investment Management Llc2023-12-31
614.6 K
T. Rowe Price Investment Management,inc.2023-12-31
596.5 K
Amvescap Plc.2023-12-31
582.3 K
Blackrock Inc2023-12-31
4.4 M
Vanguard Group Inc2023-12-31
3.8 M
View Novanta Diagnostics

Novanta Historical Income Statement

Novanta Income Statement is one of the three primary financial statements used for reporting Novanta's overall financial performance over a current year or for a given accounting period. An Income Statement sometimes referred to as the statement of Novanta revenue and expense. Novanta Income Statement primarily focuses on the company's revenues and expenses during a particular period.
At this time, Novanta's Net Income is comparatively stable compared to the past year. Income Tax Expense is likely to gain to about 11.4 M in 2024, whereas Cost Of Revenue is likely to drop slightly above 258.9 M in 2024. View More Fundamentals

Novanta Stock Against Markets

Picking the right benchmark for Novanta stock is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Novanta stock price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Novanta is critical whether you are bullish or bearish towards Novanta at a given time. Please also check how Novanta's historical prices are related to one of the top price index indicators.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Novanta without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Novanta Corporate Directors

Novanta corporate directors refer to members of a Novanta board of directors. The board of directors generally takes responsibility for the Novanta's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Novanta's board members must vote for the resolution. The Novanta board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Dominic RomeoIndependent DirectorProfile
Ira LamelIndependent DirectorProfile
Lonny CarpenterIndependent DirectorProfile
Brian KingIndependent DirectorProfile

How to buy Novanta Stock?

Before investing in Novanta, you must ensure you fully understand your financial goals and how diversified (or not) your overall investments are now. Then, after you clearly understand your investment objectives, consider investing in Novanta. To buy Novanta stock, you can follow these steps:
  • Choose a brokerage firm: You need to select a brokerage firm to buy shares of Novanta. Some popular options include Charles Schwab, Fidelity, TD Ameritrade, and Robinhood.
  • Open an account: Once you have chosen a brokerage firm, you will need to open an account. You will be required to provide personal information, such as your name, address, and Social Security number.
  • Fund your account: You will need to deposit funds into your brokerage account to purchase Novanta stock. You can do this by transferring funds from your bank account or other investment accounts.
  • Place your order: Once you have located Novanta stock in your brokerage account, you can place your order to buy it. You will need to specify the number of shares you want to buy and the price you are willing to pay.
  • Monitor your investment: After you have purchased Novanta stock, you should monitor your investment to track its performance and make informed decisions about buying, selling, or holding the stock
It's important to note that investing in stocks, such as Novanta, carries risks, and you should carefully consider your investment goals and risk tolerance before making any investment decisions. Also, remember various factors, including economic indicators, change in net worth, political events, company-specific news, and investor sentiment, can influence the stock market. These factors can cause fluctuations in stock prices and lead to market volatility affecting your buy or sell decision. However, volatility can also present opportunities for investors to make gains by buying stocks when prices are low and selling when they are high. It's important for investors to have a long-term perspective and a well-diversified portfolio to manage the impact of stock market volatility on their investments. For more information on how to buy Novanta Stock please use our How to Invest in Novanta guide.

Already Invested in Novanta?

The danger of trading Novanta is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Novanta is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Novanta. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Novanta is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Novanta is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Novanta Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Novanta Stock. Highlighted below are key reports to facilitate an investment decision about Novanta Stock:
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Novanta. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in real.
For more information on how to buy Novanta Stock please use our How to Invest in Novanta guide.
You can also try the AI Investment Finder module to use AI to screen and filter profitable investment opportunities.

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When running Novanta's price analysis, check to measure Novanta's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Novanta is operating at the current time. Most of Novanta's value examination focuses on studying past and present price action to predict the probability of Novanta's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Novanta's price. Additionally, you may evaluate how the addition of Novanta to your portfolios can decrease your overall portfolio volatility.
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Is Novanta's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Novanta. If investors know Novanta will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Novanta listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.19)
Earnings Share
2.02
Revenue Per Share
24.597
Quarterly Revenue Growth
(0.03)
Return On Assets
0.0596
The market value of Novanta is measured differently than its book value, which is the value of Novanta that is recorded on the company's balance sheet. Investors also form their own opinion of Novanta's value that differs from its market value or its book value, called intrinsic value, which is Novanta's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Novanta's market value can be influenced by many factors that don't directly affect Novanta's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Novanta's value and its price as these two are different measures arrived at by different means. Investors typically determine if Novanta is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Novanta's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.