Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 3,704 shares of the firm’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $136.02, for a total value of $503,818.08. Following the sale, the chief financial officer now owns 158,198 shares of the company’s stock, valued at $21,518,091.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
NOVT opened at $134.18 on Thursday. The company has a market capitalization of $4.75 billion, a PE ratio of 115.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.27 and a quick ratio of 1.51. Novanta Inc. has a fifty-two week low of $75.87 and a fifty-two week high of $146.16. The business has a 50-day moving average of $132.46 and a 200-day moving average of $123.28.
Novanta (NASDAQ:NOVT) last issued its quarterly earnings data on Sunday, February 28th. The technology company reported $0.53 earnings per share 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 analyst estimates of $147.05 million. Novanta had a net margin of 6.81% and a return on equity of 16.33%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 earnings per share. On average, equities research analysts expect that Novanta Inc. will post 1.85 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in NOVT. LPL Financial LLC boosted its holdings in Novanta by 1.2% in the third quarter. LPL Financial LLC now owns 7,843 shares of the technology company’s stock worth $826,000 after purchasing an additional 93 shares in the last quarter. OneAscent Financial Services LLC boosted its stake in shares of Novanta by 6.9% during the 4th quarter. OneAscent Financial Services LLC now owns 2,300 shares of the technology company’s stock worth $272,000 after acquiring an additional 148 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Novanta by 0.3% during the 3rd 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 raised its stake 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 valued at $601,000 after acquiring an additional 229 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Novanta by 22.6% in 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 last quarter. 90.22% of the stock is owned by institutional investors and hedge funds.
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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