Insider Selling: Novanta Inc. (NASDAQ:NOVT) CFO Sells 3,704 Shares of Stock
Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 3,704 shares of the stock in a transaction on Monday, April 5th. The stock was sold at an average price of $136.02, for a total transaction of $503,818.08. Following the transaction, the chief financial officer now owns 158,198 shares of the company’s stock, valued at approximately $21,518,091.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
NASDAQ:NOVT opened at $134.18 on Thursday. Novanta Inc. has a 12-month low of $75.87 and a 12-month high of $146.16. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 115.67 and a beta of 1.09. The stock’s 50 day moving average price is $132.46 and its two-hundred day moving average price is $123.28. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.42.
Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Sunday, February 28th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. Novanta had a return on equity of 16.33% and a net margin of 6.81%. The business had revenue of $147.50 million for the quarter, compared to analysts’ expectations of $147.05 million. During the same quarter in the prior year, the business earned $0.55 EPS. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. Equities research analysts expect that Novanta Inc. will post 1.85 EPS for the current year.
Several institutional investors have recently bought and sold shares of NOVT. Norges Bank bought a new stake in Novanta in the 4th quarter valued at $37,933,000. JPMorgan Chase & Co. grew its stake in shares of Novanta by 39.0% in the fourth quarter. JPMorgan Chase & Co. now owns 811,817 shares of the technology company’s stock valued at $95,972,000 after acquiring an additional 227,934 shares in the last quarter. BlackRock Inc. increased its position in Novanta by 5.2% during the fourth quarter. BlackRock Inc. now owns 2,646,209 shares of the technology company’s stock worth $312,834,000 after acquiring an additional 129,606 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Novanta by 7.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,257,365 shares of the technology company’s stock valued at $148,646,000 after purchasing an additional 92,169 shares during the period. Finally, Morgan Stanley raised its position in shares of Novanta by 281.2% in the third quarter. Morgan Stanley now owns 106,512 shares of the technology company’s stock valued at $11,220,000 after buying an additional 78,573 shares in the last quarter. 90.22% of the stock is currently owned by institutional investors.
Novanta Company Profile
Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. Its Photonics segment offers photonics-based solutions, including laser scanning and beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products for photonics-based applications, such as industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
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