Robert Buckley Sells 1,111 Shares of Novanta Inc. (NASDAQ:NOVT) Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,111 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $180.45, for a total transaction of $200,479.95. Following the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $21,729,608.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, September 3rd, Robert Buckley sold 4,379 shares of Novanta stock. The stock was sold at an average price of $176.20, for a total transaction of $771,579.80.
• On Thursday, August 1st, Robert Buckley sold 4,108 shares of Novanta stock. The stock was sold at an average price of $172.75, for a total transaction 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 value of $329,729.40.
• On Friday, July 12th, Robert Buckley sold 1,830 shares of Novanta stock. The shares were sold at an average price of $170.19, for a total transaction of $311,447.70.

Novanta Stock Down 2.3 %

NASDAQ:NOVT traded down $4.11 during trading hours on Tuesday, reaching $174.81. The company’s stock had a trading volume of 191,651 shares, compared to its average volume of 140,303. Novanta Inc. has a 12 month low of $111.20 and a 12 month high of $187.12. The company has a market capitalization of $6.27 billion, a P/E ratio of 89.91 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77. The stock has a 50 day moving average price of $175.60 and a two-hundred day moving average price of $168.49.

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

Analyst Ratings Changes

Separately, Robert W. Baird raised their price target on Novanta from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can grew its holdings in shares of Novanta by 2.6% in the second quarter. Bank of Montreal Can now owns 3,598 shares of the technology company’s stock valued at $599,000 after purchasing an additional 90 shares during the period. Victory Capital Management Inc. lifted its stake in Novanta by 1.3% during the second quarter. Victory Capital Management Inc. now owns 7,526 shares of the technology company’s stock worth $1,228,000 after purchasing an additional 99 shares during the last quarter. New York State Teachers Retirement System boosted 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 acquiring an additional 100 shares in the last quarter. Signaturefd LLC grew its position in shares of Novanta by 38.3% during the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after acquiring an additional 100 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in Novanta by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 44,969 shares of the technology company’s stock valued at $7,859,000 after acquiring an additional 119 shares during the period. 98.35% of the stock is owned by hedge funds and other 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.