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

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 3,660 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 in the company, valued at approximately $20,954,110.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $180.45, for a total value 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 value of $771,579.80.
• 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.

Novanta Trading Down 2.2 %

NASDAQ NOVT traded down $3.80 during mid-day trading on Thursday, hitting $171.84. The company’s stock had a trading volume of 92,015 shares, compared to its average volume of 140,179. The firm has a market capitalization of $6.17 billion, a P/E ratio of 90.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73. Novanta Inc. has a 52-week low of $111.20 and a 52-week high of $187.12. The stock’s fifty day simple moving average is $175.33 and its two-hundred day simple moving average is $168.55.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $233.63 million. During the same quarter in the previous year, the business posted $0.80 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Research analysts expect that Novanta Inc. will post 3.3 EPS for the current year.

Hedge Funds Weigh In On Novanta

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in shares of Novanta during the first quarter worth $32,000. Headlands Technologies LLC purchased a new stake in Novanta during the 1st quarter worth $52,000. Signaturefd LLC lifted its holdings in Novanta by 38.3% in the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after buying an additional 100 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Novanta in the 1st quarter valued at about $81,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Novanta during the first quarter valued at about $90,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird raised their target price 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.

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.