Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra Sells 7,500 Shares

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the completion of the transaction, the chief executive officer now directly owns 56,382 shares of the company’s stock, valued at approximately $10,131,845.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Novanta Stock Down 2.6 %

Shares of NASDAQ NOVT opened at $170.17 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The company has a market cap of $6.11 billion, a P/E ratio of 101.90 and a beta of 1.29. Novanta Inc. has a 1 year low of $126.65 and a 1 year high of $187.12. The firm has a 50-day simple moving average of $174.15 and a two-hundred day simple moving average of $170.49.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $244.40 million during the quarter, compared to the consensus estimate of $242.33 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. Research analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current year.

Institutional Trading of Novanta

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of Novanta by 33.1% during the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after acquiring an additional 59 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Novanta by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 23,379 shares of the technology company’s stock valued at $4,183,000 after acquiring an additional 80 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Novanta by 2.6% during the second quarter. Bank of Montreal Can now owns 3,598 shares of the technology company’s stock valued at $599,000 after acquiring an additional 90 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Novanta by 1.3% during the second quarter. Victory Capital Management Inc. now owns 7,526 shares of the technology company’s stock valued at $1,228,000 after acquiring an additional 99 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Novanta by 38.3% during the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock valued at $59,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered their price target on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

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.