Insider Selling: Novanta Inc. (NASDAQ:NOVT) CEO Sells 1,086 Shares of Stock

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

Novanta Price Performance

Novanta stock opened at $160.29 on Thursday. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 83.05 and a beta of 1.31. The firm’s fifty day moving average is $162.14 and its 200 day moving average is $163.51. The company has a quick ratio of 1.77, a current ratio of 2.83 and a debt-to-equity ratio of 0.75. Novanta Inc. has a 52-week low of $111.20 and a 52-week high of $185.80.

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

Institutional Investors Weigh In On Novanta

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Novanta in the 4th quarter worth about $62,186,000. Public Employees Retirement Association of Colorado grew its holdings in Novanta by 475.4% during 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 acquiring an additional 140,931 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Novanta by 75.3% during the 4th quarter. Clearbridge Investments LLC now owns 310,032 shares of the technology company’s stock worth $52,212,000 after acquiring an additional 133,138 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Novanta by 12.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,203 shares of the technology company’s stock valued at $119,371,000 after buying an additional 92,243 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Novanta by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company’s stock valued at $350,836,000 after buying an additional 79,718 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.