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

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $145.04, for a total transaction of $1,087,800.00. Following the sale, the chief executive officer directly owned 57,367 shares of the company’s stock, valued at $8,320,509.68. This represents a 11.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Matthijs Glastra also recently made the following trade(s):

• On Wednesday, January 21st, Matthijs Glastra sold 7,500 shares of Novanta stock. The shares were sold at an average price of $140.00, for a total transaction of $1,050,000.00.
• On Friday, January 9th, Matthijs Glastra sold 6,177 shares of Novanta stock. The stock was sold at an average price of $130.00, for a total value of $803,010.00.
• On Thursday, January 8th, Matthijs Glastra sold 323 shares of Novanta stock. The stock was sold at an average price of $130.14, for a total value of $42,035.22.

Novanta Stock Down 1.8%

Shares of NASDAQ:NOVT traded down $2.54 during trading on Thursday, hitting $139.29. The company’s stock had a trading volume of 389,102 shares, compared to its average volume of 464,076. The business has a 50 day moving average price of $127.90 and a two-hundred day moving average price of $118.53. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.54 and a current ratio of 2.51. The company has a market capitalization of $4.98 billion, a PE ratio of 94.76 and a beta of 1.62. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $153.20.

Institutional Trading of Novanta

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Novanta by 4.6% during the third quarter. Vanguard Group Inc. now owns 4,378,888 shares of the technology company’s stock valued at $438,546,000 after purchasing an additional 193,366 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Novanta by 15.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,579,626 shares of the technology company’s stock valued at $203,661,000 after purchasing an additional 214,374 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Novanta by 75.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company’s stock worth $155,536,000 after purchasing an additional 604,055 shares during the period. Wasatch Advisors LP boosted its position in shares of Novanta by 10.6% in the second quarter. Wasatch Advisors LP now owns 1,100,029 shares of the technology company’s stock worth $141,827,000 after buying an additional 104,985 shares during the period. Finally, Geneva Capital Management LLC grew its stake in Novanta by 5.9% during the 2nd quarter. Geneva Capital Management LLC now owns 988,969 shares of the technology company’s stock valued at $127,508,000 after acquiring an additional 54,934 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOVT. Zacks Research upgraded shares of Novanta from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Weiss Ratings upgraded shares of Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 20th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $133.00.

About Novanta

Novanta, Inc (NASDAQ: NOVT) is a global technology company that designs and manufactures precision components, subsystems and software used in advanced photonics and motion control applications. The company serves customers in the medical device and advanced industrial markets, supplying critical technologies for diagnostics and therapeutic systems, semiconductor and electronics manufacturing, and scientific instrumentation. Novanta’s product portfolio includes laser control modules, optics, beam delivery systems, high-precision motors, actuators, stages, and fluidics solutions designed to meet stringent accuracy and reliability requirements.

Novanta’s Photonics segment delivers laser and energy delivery components that enable minimally invasive surgical procedures and diagnostic imaging.