Insider Selling: Novanta Inc. (NASDAQ:NOVT) CFO Sells 1,111 Shares of Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,111 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.45, for a total transaction of $200,479.95. Following the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $21,729,608.55. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock was 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 stock was sold at an average price of $176.20, for a total transaction 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 value of $311,447.70.

Novanta Stock Performance

Shares of Novanta stock opened at $171.84 on Friday. The firm has a fifty day moving average of $175.12 and a two-hundred day moving average of $168.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 89.04 and a beta of 1.29. Novanta Inc. has a 52 week low of $111.20 and a 52 week high of $187.12.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The business had revenue of $235.86 million during the quarter, compared to the consensus estimate of $233.63 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Novanta Inc. will post 3.3 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Novanta

Hedge funds have recently modified their holdings of the company. Rise Advisors LLC acquired a new position in Novanta during the first quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new position in shares of Novanta in the 1st quarter valued at $52,000. Signaturefd LLC grew its holdings in shares of Novanta by 38.3% in the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock valued at $59,000 after buying an additional 100 shares during the period. YHB Investment Advisors Inc. bought a new stake in shares of Novanta in the 1st quarter valued at $81,000. Finally, Fidelis Capital Partners LLC bought a new position in Novanta during the first quarter worth about $90,000. 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.