Robert Buckley Sells 1,830 Shares of Novanta Inc. (NASDAQ:NOVT) Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,830 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $161.09, for a total value of $294,794.70. Following the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $19,398,296.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Novanta Stock Performance

NOVT stock opened at $160.29 on Friday. The firm has a market cap of $5.75 billion, a PE ratio of 83.05 and a beta of 1.31. 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 business has a 50 day moving average of $162.22 and a 200-day moving average of $163.49. Novanta Inc. has a 12-month low of $111.20 and a 12-month high of $185.80.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.17. The company 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%. Novanta’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, sell-side analysts expect that Novanta Inc. will post 3.26 earnings per share for the current year.

Hedge Funds Weigh In On Novanta

Several institutional investors have recently modified their holdings of NOVT. Fifth Third Bancorp lifted its stake in Novanta by 12.1% in the first quarter. Fifth Third Bancorp now owns 743 shares of the technology company’s stock valued at $130,000 after purchasing an additional 80 shares during the last quarter. First Horizon Advisors Inc. lifted 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 during the last quarter. New York State Teachers Retirement System lifted its stake in Novanta by 1.7% in the first quarter. New York State Teachers Retirement System now owns 5,876 shares of the technology company’s stock valued at $1,027,000 after purchasing an additional 100 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Novanta by 0.3% in the first quarter. Retirement Systems of Alabama now owns 44,969 shares of the technology company’s stock valued at $7,859,000 after purchasing an additional 119 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Novanta by 2.7% in the fourth quarter. Xponance Inc. now owns 5,271 shares of the technology company’s stock valued at $888,000 after purchasing an additional 140 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

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.