Matthijs Glastra Sells 1,086 Shares of Novanta Inc. (NASDAQ:NOVT) Stock

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 1,086 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $160.84, for a total transaction of $174,672.24. Following the completion of the sale, the chief executive officer now directly owns 23,486 shares in the company, valued at $3,777,488.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Novanta Price Performance

NOVT stock opened at $160.29 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.77 and a debt-to-equity ratio of 0.75. The company’s 50 day moving average is $162.22 and its 200 day moving average is $163.49. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 83.05 and a beta of 1.31. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $185.80.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.74 earnings per share 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%. Novanta’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. Sell-side analysts predict that Novanta Inc. will post 3.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp increased its position in shares of Novanta by 12.1% in the first quarter. Fifth Third Bancorp now owns 743 shares of the technology company’s stock worth $130,000 after purchasing an additional 80 shares during the last quarter. First Horizon Advisors Inc. grew its position in Novanta by 67.5% during the fourth quarter. First Horizon Advisors Inc. now owns 211 shares of the technology company’s stock valued at $36,000 after acquiring an additional 85 shares during the last quarter. New York State Teachers Retirement System grew its position in Novanta by 1.7% during the first quarter. New York State Teachers Retirement System now owns 5,876 shares of the technology company’s stock valued at $1,027,000 after acquiring an additional 100 shares during the last quarter. Retirement Systems of Alabama grew its position in Novanta by 0.3% during the first quarter. Retirement Systems of Alabama now owns 44,969 shares of the technology company’s stock valued at $7,859,000 after acquiring an additional 119 shares during the last quarter. Finally, Xponance Inc. grew its position in Novanta by 2.7% during the fourth quarter. Xponance Inc. now owns 5,271 shares of the technology company’s stock valued at $888,000 after acquiring an additional 140 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

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.