Novanta Inc is a global provider of advanced technology solutions that cater to the medical and advanced industrial markets
The company specializes in the design and manufacturing of photonics, motion, and precision optics systems, which are critical in enabling precise and efficient functioning of various applications, such as surgical equipment, laser-based technologies, and automated industrial processes. With a focus on innovation and quality, Novanta works closely with its customers to develop tailored solutions that enhance performance and reliability in demanding environments, ultimately contributing to improved outcomes in healthcare and productivity across various industries.
Over the last six months, Novanta’s shares have sunk to $149.65, producing a disappointing 17.7% loss - a stark contrast to the S&P 500’s 12.6% gain. This was partly driven by its softer quarterly results and may have investors wondering how to approach the situation.
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Medicine and manufacturing technology provider Novanta (NASDAQNOVT) met Wall Street’s revenue expectations in Q3 CY2024, with sales up 10.3% year on year to $244.4 million. On the other hand, next quarter’s revenue guidance of $239.5 million was less impressive, coming in 9.3% below analysts’ estimates. Its GAAP profit of $0.53 per share was 3.6% below analysts’ consensus estimates.
