Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley Sells 4,379 Shares

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 4,379 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $176.20, for a total transaction of $771,579.80. Following the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at $21,217,827.80. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 transaction of $329,729.40.
• On Friday, July 12th, Robert Buckley sold 1,830 shares of Novanta stock. The stock was sold at an average price of $170.19, for a total value of $311,447.70.
• On Monday, July 1st, Robert Buckley sold 1,830 shares of Novanta stock. The stock was sold at an average price of $161.09, for a total transaction of $294,794.70.

Novanta Price Performance

Novanta stock traded down $1.17 during trading hours on Thursday, reaching $172.69. 96,473 shares of the stock were exchanged, compared to its average volume of 138,858. The stock has a 50 day moving average of $173.78 and a two-hundred day moving average of $167.96. The company has a market cap of $6.20 billion, a P/E ratio of 89.76 and a beta of 1.31. The company has a current ratio of 2.77, a quick ratio of 1.73 and a debt-to-equity ratio of 0.68. Novanta Inc. has a twelve month low of $111.20 and a twelve month high of $187.12.

Novanta (NASDAQ:NOVT) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. The firm had revenue of $235.86 million during the quarter, compared to the consensus estimate of $233.63 million. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Equities analysts expect that Novanta Inc. will post 3.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Novanta

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Novanta by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after purchasing an additional 45,937 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Novanta by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company’s stock worth $350,836,000 after buying an additional 79,718 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Novanta by 2.4% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,329,826 shares of the technology company’s stock worth $216,908,000 after purchasing an additional 31,290 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of Novanta by 0.4% in the second quarter. William Blair Investment Management LLC now owns 960,152 shares of the technology company’s stock valued at $156,610,000 after buying an additional 4,079 shares in the last quarter. Finally, Wasatch Advisors LP lifted its position in Novanta by 4.0% in the 1st quarter. Wasatch Advisors LP now owns 958,774 shares of the technology company’s stock valued at $167,565,000 after acquiring an additional 37,238 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted 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.

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.