Insider Selling: Novanta Inc. (NASDAQ:NOVT) CFO Sells $200,479.95 in Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,111 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $180.45, for a total transaction of $200,479.95. Following the completion of the sale, the chief financial officer now owns 120,419 shares in the company, valued at $21,729,608.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, October 1st, Robert Buckley sold 3,660 shares of Novanta stock. The shares were sold at an average price of $174.01, for a total transaction of $636,876.60.
• On Tuesday, September 3rd, Robert Buckley sold 4,379 shares of Novanta stock. The shares were 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 stock was 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 shares were 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 stock was sold at an average price of $170.19, for a total value of $311,447.70.

Novanta Stock Down 2.2 %

Shares of NOVT opened at $171.84 on Friday. 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 company has a 50-day moving average price of $175.12 and a two-hundred day moving average price of $168.57. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 89.04 and a beta of 1.29. Novanta Inc. has a 12 month low of $111.20 and a 12 month high of $187.12.

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

Analysts Set New Price Targets

Separately, Robert W. Baird increased their price objective on shares of Novanta from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th.

Institutional Investors Weigh In On Novanta

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Novanta by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after purchasing an additional 45,937 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Novanta by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company’s stock worth $350,836,000 after buying an additional 79,718 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Novanta by 2.4% in the second quarter. Conestoga Capital Advisors LLC now owns 1,329,826 shares of the technology company’s stock valued at $216,908,000 after acquiring an additional 31,290 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Novanta by 0.4% in the 2nd quarter. William Blair Investment Management LLC now owns 960,152 shares of the technology company’s stock worth $156,610,000 after acquiring an additional 4,079 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in shares of Novanta by 4.0% in the 1st quarter. Wasatch Advisors LP now owns 958,774 shares of the technology company’s stock worth $167,565,000 after acquiring an additional 37,238 shares in the last quarter. Institutional investors and hedge funds 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.