Novanta Inc (NASDAQ:NOVT) CFO Robert Buckley sold 5,260 shares of Novanta stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $94.82, for a total value of $498,753.20. Following the sale, the chief financial officer now owns 163,321 shares of the company’s stock, valued at $15,486,097.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of NOVT stock opened at $96.48 on Monday. The stock has a market cap of $3.38 billion, a P/E ratio of 79.08 and a beta of 1.47. The stock has a fifty day moving average price of $91.82 and a 200 day moving average price of $84.86. Novanta Inc has a one year low of $66.04 and a one year high of $98.38. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 1.43.
Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Novanta had a net margin of 6.94% and a return on equity of 20.01%. The firm had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $155.04 million. During the same quarter last year, the company earned $0.61 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Novanta Inc will post 2.14 EPS for the current year.
Several institutional investors have recently made changes to their positions in NOVT. Invesco Ltd. lifted its holdings in Novanta by 2,775.1% during the 2nd quarter. Invesco Ltd. now owns 708,599 shares of the technology company’s stock valued at $66,821,000 after purchasing an additional 683,953 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Novanta in the second quarter valued at approximately $22,352,000. Conestoga Capital Advisors LLC raised its stake in shares of Novanta by 18.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 956,469 shares of the technology company’s stock valued at $84,590,000 after acquiring an additional 149,916 shares during the last quarter. Waddell & Reed Financial Inc. boosted its holdings in shares of Novanta by 123.4% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 270,201 shares of the technology company’s stock worth $25,480,000 after acquiring an additional 149,244 shares in the last quarter. Finally, Royal Bank of Canada grew its position in Novanta by 14.3% during the 2nd quarter. Royal Bank of Canada now owns 572,245 shares of the technology company’s stock worth $53,962,000 after acquiring an additional 71,423 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.
NOVT has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Novanta from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. BidaskClub raised Novanta from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd.
About Novanta
Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company’s Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
