Novanta (NOVT) Soars 3.8%: Is Further Upside Left in the Stock?

Novanta is benefiting from strong momentum across medical applications, growing demand for robotics and automation, minimally invasive and robotic surgery and precision medicine. Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's ...