Novanta Inc. (NASDAQ:NOVT) CFO Sells $294,794.70 in Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,830 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $161.09, for a total transaction of $294,794.70. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $19,398,296.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Novanta Price Performance

Shares of Novanta stock opened at $160.29 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.83 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 83.05 and a beta of 1.31. Novanta Inc. has a twelve month low of $111.20 and a twelve month high of $185.80. The company has a 50-day simple moving average of $162.14 and a two-hundred day simple moving average of $163.51.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.57 by $0.17. The company had revenue of $230.92 million for the quarter, compared to analysts’ expectations of $227.85 million. Novanta had a net margin of 7.76% and a return on equity of 16.58%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. Analysts forecast that Novanta Inc. will post 3.26 EPS for the current year.

Hedge Funds Weigh In On Novanta

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOVT. Rise Advisors LLC acquired a new position in shares of Novanta in the 1st quarter valued at approximately $32,000. First Horizon Advisors Inc. boosted its stake in shares of Novanta by 67.5% in the 4th quarter. First Horizon Advisors Inc. now owns 211 shares of the technology company’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. Headlands Technologies LLC acquired a new position in Novanta during the 1st quarter worth approximately $52,000. YHB Investment Advisors Inc. bought a new position in Novanta in the 1st quarter valued at approximately $81,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Novanta in the first quarter valued at approximately $90,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Company Profile

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.