Novanta Inc. (NASDAQ:NOVT) CEO Sells $860,000.00 in Stock

Novanta Inc. (NASDAQ:NOVTGet Free Report) CEO Matthijs Glastra sold 5,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $172.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief executive officer now directly owns 24,572 shares in the company, valued at $4,226,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Novanta Price Performance

NOVT traded down $4.19 during trading on Tuesday, reaching $167.96. The company’s stock had a trading volume of 104,528 shares, compared to its average volume of 130,172. The company has a quick ratio of 1.91, a current ratio of 2.98 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $166.35 and a two-hundred day simple moving average of $154.44. Novanta Inc. has a 1 year low of $111.20 and a 1 year high of $187.60. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 84.80 and a beta of 1.33.

Novanta (NASDAQ:NOVTGet Free Report) last released its earnings results on Wednesday, February 28th. The technology company reported $0.63 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.63. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The business had revenue of $211.60 million for the quarter, compared to analyst estimates of $210.90 million. During the same period last year, the company posted $0.75 EPS. The business’s revenue was down 3.1% on a year-over-year basis. As a group, analysts anticipate that Novanta Inc. will post 3.22 EPS for the current year.

Institutional Trading of Novanta

Several institutional investors have recently made changes to their positions in NOVT. Operose Advisors LLC purchased a new stake in shares of Novanta during the 3rd quarter valued at approximately $34,000. First Horizon Advisors Inc. raised its position in shares of Novanta by 67.5% during the 4th quarter. First Horizon Advisors Inc. now owns 211 shares of the technology company’s stock valued at $36,000 after buying an additional 85 shares during the period. Point72 Middle East FZE purchased a new stake in shares of Novanta during the 4th quarter valued at approximately $57,000. UBS Group AG raised its position in shares of Novanta by 85.7% during the 3rd quarter. UBS Group AG now owns 544 shares of the technology company’s stock valued at $63,000 after buying an additional 251 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of Novanta during the 3rd quarter valued at approximately $78,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TheStreet raised shares of Novanta from a “c+” rating to a “b-” rating in a research note on Thursday, December 28th.

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About Novanta

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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.

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