Will Novanta Inc. (NOVT) Run Out of Steam Soon?

April 17, 2018 - By Maria Brooks

The stock of Novanta Inc. (NASDAQ:NOVT) reached all time high today, Apr, 17 and still has $66.71 target or 9.00 % above today’s $61.20 share price. This indicates more upside for the $2.12B company. This technical setup was reported by Barchart.com. If the $66.71 PT is reached, the company will be worth $191.07 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 4.97% or $2.9 during the last trading session, reaching $61.2. About 213,524 shares traded. Novanta Inc. (NASDAQ:NOVT) has risen 95.89% since April 17, 2017 and is uptrending. It has outperformed by 84.34% the S&P500.

Analysts await Novanta Inc. (NASDAQ:NOVT) to report earnings on May, 14. They expect $0.40 EPS, up 29.03 % or $0.09 from last year’s $0.31 per share. NOVT’s profit will be $13.88M for 38.25 P/E if the $0.40 EPS becomes a reality. After $0.44 actual EPS reported by Novanta Inc. for the previous quarter, Wall Street now forecasts -9.09 % negative EPS growth.

Novanta Inc., together with its subsidiaries, designs, develops, makes, markets, and sells precision photonic and motion control components and subsystems to original equipment manufacturers in the medical equipment and advanced industrial technology markets worldwide. The company has market cap of $2.12 billion. The firm operates in three divisions: Photonics, Vision, and Precision Motion. It has a 54.16 P/E ratio. The Photonics segment offers photonics solutions, including CO2 laser sources, and laser scanning and laser beam delivery products for photonics applications, such as industrial material processing, metrology, medical and life science imaging, and medical laser procedures.

Novanta Inc. (NASDAQ:NOVT) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: