Novanta Inc. (NASDAQ:NOVT) CFO Sells $311,447.70 in Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,830 shares of Novanta stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $170.19, for a total transaction of $311,447.70. Following the completion of the sale, the chief financial officer now owns 120,419 shares in the company, valued at $20,494,109.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, July 1st, Robert Buckley sold 1,830 shares of Novanta stock. The shares were sold at an average price of $161.09, for a total transaction of $294,794.70.

Novanta Price Performance

NASDAQ:NOVT opened at $182.13 on Thursday. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $187.12. The company has a current ratio of 2.83, a quick ratio of 1.77 and a debt-to-equity ratio of 0.75. The firm has a fifty day simple moving average of $163.46 and a 200 day simple moving average of $163.32. The stock has a market capitalization of $6.54 billion, a PE ratio of 94.37 and a beta of 1.31.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.17. Novanta had a net margin of 7.76% and a return on equity of 16.58%. The business had revenue of $230.92 million during the quarter, compared to analysts’ expectations of $227.85 million. During the same period last year, the business earned $0.74 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that Novanta Inc. will post 3.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Novanta

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC bought a new position in Novanta during the first quarter worth $32,000. First Horizon Advisors Inc. raised its stake in Novanta by 67.5% in the fourth quarter. First Horizon Advisors Inc. now owns 211 shares of the technology company’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. Headlands Technologies LLC acquired a new position in Novanta during the first quarter worth about $52,000. YHB Investment Advisors Inc. acquired a new position in Novanta during the first quarter worth about $81,000. Finally, Fidelis Capital Partners LLC acquired a new position in Novanta during the first quarter worth about $90,000. 98.35% of the stock is owned by institutional investors.

About Novanta

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.