Novanta Inc. (NOVT) Plunges 5.7% on January 03

Novanta Inc. (NOVT) Plunges 5.7% on January 03

Novanta Inc. (NOVT) had a rough trading day for Thursday January 03 as shares tumbled 5.7%, or a loss of $-3.65 per share, to close at $60.43. After opening the day at $63.35, shares of Novanta Inc. traded as high as $63.51 and as low as $60.15. Volume was 142,620 shares over 1,831 trades, against an average daily volume of n/a shares and a total float of 34.91 million.

As a result of the decline, Novanta Inc. now has a market cap of $2.11 billion.

The stock has a P/E Ratio of 56.5.

Novanta Inc manufactures photonic and motion control components for original equipment manufacturers (OEM’s) in the medical equipment and industrial technology markets. The firm operates in three segments: Laser Products, Vision Technologies, and Precision Motion. The Laser Products segment contributes the majority of revenue. It sells photonics-based solutions, including carbon dioxide laser sources, laser scanning, and laser beam delivery products. The Vision Technologies segment sells medical-grade technologies, including visualization solutions, imaging informatics products, and thermal printers. The Precision Motion segment sells optical encoders, motion control technology, and precision machined components. The firm generates the majority of its revenue outside of the United States.

Novanta Inc. is based out of Bedford, MA and has some 2,034 employees. Its CEO is Matthijs Glastra.

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