Novanta Inc. (NASDAQ:NOVT) CEO Sells $174,672.24 in Stock

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 1,086 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $160.84, for a total value of $174,672.24. Following the completion of the sale, the chief executive officer now directly owns 23,486 shares of the company’s stock, valued at approximately $3,777,488.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Novanta Stock Performance

Shares of NASDAQ:NOVT remained flat at $160.29 during trading on Wednesday. The stock had a trading volume of 97,204 shares, compared to its average volume of 131,143. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 83.05 and a beta of 1.31. Novanta Inc. has a 52-week low of $111.20 and a 52-week high of $185.80. The company has a quick ratio of 1.77, a current ratio of 2.83 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $162.09 and its two-hundred day simple moving average is $163.53.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17. The firm had revenue of $230.92 million during the quarter, compared to analyst estimates of $227.85 million. Novanta had a return on equity of 16.58% and a net margin of 7.76%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, sell-side analysts predict that Novanta Inc. will post 3.26 earnings per share for the current fiscal year.

Institutional Trading of Novanta

Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its stake in Novanta by 299.9% in the fourth quarter. Wells Fargo & Company MN now owns 61,912 shares of the technology company’s stock worth $10,427,000 after acquiring an additional 46,430 shares during the period. Clearbridge Investments LLC lifted its stake in Novanta by 75.3% in the fourth quarter. Clearbridge Investments LLC now owns 310,032 shares of the technology company’s stock worth $52,212,000 after acquiring an additional 133,138 shares during the period. Allianz Asset Management GmbH lifted its stake in Novanta by 222.6% in the fourth quarter. Allianz Asset Management GmbH now owns 10,000 shares of the technology company’s stock worth $1,684,000 after acquiring an additional 6,900 shares during the period. Portside Wealth Group LLC purchased a new stake in Novanta in the fourth quarter worth $398,000. Finally, Navellier & Associates Inc. lifted its stake in Novanta by 25.6% in the fourth quarter. Navellier & Associates Inc. now owns 5,037 shares of the technology company’s stock worth $848,000 after acquiring an additional 1,027 shares during the period. Hedge funds and other institutional investors 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.