Insider Selling: Novanta Inc. (NASDAQ:NOVT) CFO Sells 1,111 Shares of Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,111 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $180.45, for a total value of $200,479.95. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at $21,729,608.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Robert Buckley also recently made the following trade(s):

• On Tuesday, September 3rd, Robert Buckley sold 4,379 shares of Novanta stock. The stock was sold at an average price of $176.20, for a total value of $771,579.80.
• On Thursday, August 1st, Robert Buckley sold 4,108 shares of Novanta stock. The stock was sold at an average price of $172.75, for a total value of $709,657.00.
• On Tuesday, July 16th, Robert Buckley sold 1,830 shares of Novanta stock. The stock was sold at an average price of $180.18, for a total value of $329,729.40.
• On Friday, July 12th, Robert Buckley sold 1,830 shares of Novanta stock. The shares were sold at an average price of $170.19, for a total value of $311,447.70.

Novanta Trading Down 2.3 %

Shares of NASDAQ:NOVT opened at $174.81 on Wednesday. Novanta Inc. has a 1 year low of $111.20 and a 1 year high of $187.12. The stock’s fifty day moving average price is $175.60 and its 200-day moving average price is $168.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73. The company has a market cap of $6.27 billion, a P/E ratio of 90.58 and a beta of 1.29.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The company had revenue of $235.86 million for the quarter, compared to the consensus estimate of $233.63 million. During the same quarter in the prior year, the company earned $0.80 earnings per share. Novanta’s revenue was up 2.8% on a year-over-year basis. Sell-side analysts expect that Novanta Inc. will post 3.3 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird upped their price target on Novanta from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th.

Institutional Trading of Novanta

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Novanta by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after buying an additional 45,937 shares in the last quarter. Wells Fargo & Company MN increased its position in Novanta by 299.9% in the fourth quarter. Wells Fargo & Company MN now owns 61,912 shares of the technology company’s stock worth $10,427,000 after buying an additional 46,430 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Novanta in the first quarter worth about $780,000. Allianz Asset Management GmbH increased its position in Novanta by 222.6% in the fourth quarter. Allianz Asset Management GmbH now owns 10,000 shares of the technology company’s stock worth $1,684,000 after buying an additional 6,900 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Novanta by 750.4% in the first quarter. SG Americas Securities LLC now owns 15,588 shares of the technology company’s stock worth $2,724,000 after buying an additional 13,755 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

About Novanta

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.