Insider Selling: Novanta Inc. (NASDAQ:NOVT) CFO Sells 3,660 Shares of Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 3,660 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $174.01, for a total transaction of $636,876.60. Following the sale, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $20,954,110.19. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, September 27th, Robert Buckley sold 1,111 shares of Novanta stock. The stock was sold at an average price of $180.45, for a total value of $200,479.95.
• On Tuesday, September 3rd, Robert Buckley sold 4,379 shares of Novanta stock. The shares were 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 shares were 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 Price Performance

NOVT stock traded down $3.80 on Thursday, reaching $171.84. 92,015 shares of the company’s stock were exchanged, compared to its average volume of 140,179. The stock has a fifty day moving average of $175.33 and a 200-day moving average of $168.55. The firm has a market cap of $6.17 billion, a PE ratio of 90.57 and a beta of 1.29. The company has a quick ratio of 1.73, a current ratio of 2.77 and a debt-to-equity ratio of 0.68. Novanta Inc. has a twelve month low of $111.20 and a twelve month high of $187.12.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. Novanta had a net margin of 6.91% and a return on equity of 15.77%. The business had revenue of $235.86 million during the quarter, compared to the consensus estimate of $233.63 million. During the same quarter last year, the firm posted $0.80 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Novanta Inc. will post 3.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted their price target on shares of Novanta from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th.

Institutional Investors Weigh In On Novanta

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Novanta by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock valued at $674,860,000 after acquiring an additional 45,937 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Novanta during the 1st quarter valued at $780,000. Allianz Asset Management GmbH grew its holdings in Novanta by 222.6% during the 4th quarter. Allianz Asset Management GmbH now owns 10,000 shares of the technology company’s stock valued at $1,684,000 after buying an additional 6,900 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of 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 acquiring an additional 13,755 shares during the last quarter. Finally, Clearline Capital LP lifted its position in shares of Novanta by 71.1% in the second quarter. Clearline Capital LP now owns 11,497 shares of the technology company’s stock valued at $1,875,000 after acquiring an additional 4,778 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.