Matthijs Glastra Sells 7,500 Shares of Novanta Inc. (NASDAQ:NOVT) Stock

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the transaction, the chief executive officer now owns 56,382 shares in the company, valued at approximately $10,131,845.40. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Novanta Stock Down 0.3 %

NOVT opened at $169.71 on Friday. Novanta Inc. has a twelve month low of $136.36 and a twelve month high of $187.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. The business has a 50 day moving average price of $174.07 and a 200 day moving average price of $170.48. The firm has a market cap of $6.10 billion, a P/E ratio of 101.65 and a beta of 1.29.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $244.40 million during the quarter, compared to the consensus estimate of $242.33 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. Novanta’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. Research analysts forecast that Novanta Inc. will post 3.03 EPS for the current year.

Institutional Trading of Novanta

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Novanta by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock valued at $674,860,000 after acquiring an additional 45,937 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Novanta by 750.4% in the 1st quarter. SG Americas Securities LLC now owns 15,588 shares of the technology company’s stock worth $2,724,000 after buying an additional 13,755 shares in the last quarter. Clearline Capital LP lifted its position in shares of Novanta by 71.1% during the 2nd quarter. Clearline Capital LP now owns 11,497 shares of the technology company’s stock worth $1,875,000 after buying an additional 4,778 shares during the period. GAMMA Investing LLC boosted its stake in Novanta by 33.1% in the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after buying an additional 59 shares in the last quarter. Finally, Raymond James & Associates grew its position in Novanta by 3.5% in the second quarter. Raymond James & Associates now owns 50,640 shares of the technology company’s stock valued at $8,260,000 after acquiring an additional 1,720 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their target price on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th.

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.