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

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 7,500 shares of Novanta 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 sale, the chief executive officer now directly owns 56,382 shares in the company, valued at $10,131,845.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Novanta Stock Performance

Shares of NASDAQ:NOVT traded down $4.54 during trading on Wednesday, reaching $170.17. 186,412 shares of the company’s stock traded hands, compared to its average volume of 141,109. The stock has a market capitalization of $6.11 billion, a P/E ratio of 101.90 and a beta of 1.29. Novanta Inc. has a 12 month low of $126.65 and a 12 month high of $187.12. The company has a 50 day moving average of $174.15 and a 200-day moving average of $170.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Novanta

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Novanta by 33.1% in the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after acquiring an additional 59 shares during the period. GHP Investment Advisors Inc. bought a new position in Novanta in the 3rd quarter worth about $49,000. Headlands Technologies LLC acquired a new stake in shares of Novanta in the first quarter valued at approximately $52,000. nVerses Capital LLC bought a new stake in shares of Novanta during the third quarter valued at approximately $54,000. Finally, Signaturefd LLC boosted 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 buying an additional 100 shares during the period. 98.35% of the stock is currently 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.