Novanta Inc. (NASDAQ:NOVT) CFO Sells $771,579.80 in Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 4,379 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $176.20, for a total value of $771,579.80. Following the completion of the sale, the chief financial officer now owns 120,419 shares in the company, valued at $21,217,827.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Robert Buckley also recently made the following trade(s):

• On Thursday, August 1st, Robert Buckley sold 4,108 shares of Novanta stock. The shares were sold at an average price of $172.75, for a total value 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 value of $329,729.40.
• On Friday, July 12th, Robert Buckley sold 1,830 shares of Novanta stock. The shares were sold at an average price of $170.19, for a total transaction of $311,447.70.
• On Monday, July 1st, Robert Buckley sold 1,830 shares of Novanta stock. The stock was sold at an average price of $161.09, for a total transaction of $294,794.70.

Novanta Stock Down 2.5 %

NASDAQ:NOVT opened at $168.40 on Friday. Novanta Inc. has a twelve month low of $111.20 and a twelve month high of $187.12. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 87.25 and a beta of 1.31. The company has a quick ratio of 1.73, a current ratio of 2.77 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $174.08 and its two-hundred day moving average price is $168.05.

Novanta (NASDAQ:NOVT) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $235.86 million for the quarter, compared to the consensus estimate of $233.63 million. Novanta had a net margin of 6.91% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. Equities research analysts expect that Novanta Inc. will post 3.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Novanta

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Novanta by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock valued at $674,860,000 after buying an additional 45,937 shares during the period. Wells Fargo & Company MN boosted its position in Novanta by 299.9% during the fourth quarter. Wells Fargo & Company MN now owns 61,912 shares of the technology company’s stock worth $10,427,000 after purchasing an additional 46,430 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Novanta by 75.3% in the fourth quarter. Clearbridge Investments LLC now owns 310,032 shares of the technology company’s stock valued at $52,212,000 after purchasing an additional 133,138 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Novanta in the first quarter valued at about $780,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Novanta by 222.6% during the 4th quarter. Allianz Asset Management GmbH now owns 10,000 shares of the technology company’s stock worth $1,684,000 after buying an additional 6,900 shares during the last quarter. 98.35% of the stock is currently 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.