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

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,830 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $161.09, for a total transaction of $294,794.70. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Novanta Price Performance

Shares of NOVT opened at $160.29 on Friday. The company has a market capitalization of $5.75 billion, a P/E ratio of 83.05 and a beta of 1.31. 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 firm has a 50 day moving average of $162.22 and a 200 day moving average of $163.49. Novanta Inc. has a twelve month low of $111.20 and a twelve month high of $185.80.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.17. The company had revenue of $230.92 million during the quarter, compared to the consensus estimate of $227.85 million. Novanta had a net margin of 7.76% and a return on equity of 16.58%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. As a group, equities research analysts anticipate that Novanta Inc. will post 3.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novanta

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in 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 worth $350,836,000 after purchasing an additional 79,718 shares during the period. First Commonwealth Financial Corp PA bought a new stake in Novanta in the 1st quarter worth approximately $437,000. CANADA LIFE ASSURANCE Co grew its position in Novanta by 1.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,027 shares of the technology company’s stock worth $5,064,000 after purchasing an additional 527 shares during the period. Bessemer Group Inc. grew its position in Novanta by 1.8% in the 1st quarter. Bessemer Group Inc. now owns 117,812 shares of the technology company’s stock worth $20,589,000 after purchasing an additional 2,094 shares during the period. Finally, Mirova bought a new stake in Novanta in the 1st quarter worth approximately $1,048,000. Institutional investors own 98.35% of the company’s stock.

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.