Novanta Inc. (NASDAQ:NOVT) CFO Sells $636,876.60 in Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 3,660 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $20,954,110.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 transaction of $200,479.95.
• 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 transaction 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 transaction 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 transaction of $329,729.40.
• On Friday, July 12th, Robert Buckley sold 1,830 shares of Novanta stock. The stock was sold at an average price of $170.19, for a total transaction of $311,447.70.

Novanta Price Performance

Shares of NASDAQ:NOVT opened at $175.00 on Friday. 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 fifty-two week low of $111.20 and a fifty-two week high of $187.12. The firm has a 50-day simple moving average of $174.92 and a 200 day simple moving average of $168.59. The company has a market cap of $6.28 billion, a PE ratio of 90.67 and a beta of 1.28.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data 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 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 in the prior year, the firm earned $0.80 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Novanta Inc. will post 3.3 EPS for the current year.

Institutional Investors Weigh In On Novanta

Institutional investors have recently modified their holdings of the business. Allianz Asset Management GmbH grew its position in Novanta by 222.6% in the 4th quarter. Allianz Asset Management GmbH now owns 10,000 shares of the technology company’s stock worth $1,684,000 after purchasing an additional 6,900 shares during the last quarter. TFO Wealth Partners LLC grew its position in Novanta by 62,800.0% in the 4th quarter. TFO Wealth Partners LLC now owns 629 shares of the technology company’s stock worth $106,000 after purchasing an additional 628 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Novanta by 475.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 170,575 shares of the technology company’s stock worth $28,727,000 after purchasing an additional 140,931 shares during the last quarter. Wasatch Advisors LP grew its position in Novanta by 1.3% in the 4th quarter. Wasatch Advisors LP now owns 921,536 shares of the technology company’s stock worth $155,196,000 after purchasing an additional 11,840 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Novanta by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,815,479 shares of the technology company’s stock worth $642,565,000 after purchasing an additional 49,471 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

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

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.