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


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Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $135.43, for a total transaction of $1,015,725.00. Following the transaction, the chief executive officer now directly owns 127,833 shares of the company’s stock, valued at $17,312,423.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Novanta stock opened at $134.18 on Thursday. Novanta Inc. has a 52-week low of $75.87 and a 52-week high of $146.16. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average is $132.46 and its 200 day moving average is $123.28. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 115.67 and a beta of 1.09.

Novanta (NASDAQ:NOVT) last announced its earnings results on Sunday, February 28th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09. The firm had revenue of $147.50 million for the quarter, compared to analysts’ expectations of $147.05 million. Novanta had a net margin of 6.81% and a return on equity of 16.33%. The business’s revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. On average, equities research analysts anticipate that Novanta Inc. will post 1.85 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of NOVT. LPL Financial LLC boosted its holdings in shares of Novanta by 1.2% in the 3rd quarter. LPL Financial LLC now owns 7,843 shares of the technology company’s stock worth $826,000 after purchasing an additional 93 shares during the period. OneAscent Financial Services LLC boosted its stake in Novanta by 6.9% during the fourth quarter. OneAscent Financial Services LLC now owns 2,300 shares of the technology company’s stock worth $272,000 after buying an additional 148 shares during the period. California State Teachers Retirement System increased its position in Novanta by 0.3% during the third quarter. California State Teachers Retirement System now owns 51,804 shares of the technology company’s stock valued at $5,457,000 after acquiring an additional 179 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Novanta by 4.7% in the 4th quarter. Glenmede Trust Co. NA now owns 5,085 shares of the technology company’s stock worth $601,000 after acquiring an additional 229 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Novanta by 22.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,355 shares of the technology company’s stock worth $160,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 90.22% of the company’s stock.

Several research analysts have commented on NOVT shares. Zacks Investment Research downgraded shares of Novanta from a “hold” rating to a “sell” rating in a report on Thursday, March 4th. TheStreet upgraded Novanta from a “c+” rating to a “b” rating in a report on Monday, March 1st.

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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