Novanta (NASDAQ:NOVT) CEO Sells $803,010.00 in Stock

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 6,177 shares of the company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $130.00, for a total value of $803,010.00. Following the sale, the chief executive officer owned 78,867 shares of the company’s stock, valued at approximately $10,252,710. This represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, January 8th, Matthijs Glastra sold 323 shares of Novanta stock. The shares were sold at an average price of $130.14, for a total value of $42,035.22.

Novanta Price Performance

Novanta stock traded up $2.51 during midday trading on Tuesday, reaching $131.47. The company’s stock had a trading volume of 286,414 shares, compared to its average volume of 571,977. The company has a current ratio of 2.51, a quick ratio of 1.54 and a debt-to-equity ratio of 0.56. The stock has a market cap of $4.70 billion, a PE ratio of 89.44 and a beta of 1.60. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $154.16. The business has a 50-day moving average price of $115.87 and a 200-day moving average price of $117.12.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Monday, November 3rd. The technology company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. The company had revenue of $247.84 million for the quarter, compared to the consensus estimate of $245.95 million. Novanta had a net margin of 5.50% and a return on equity of 14.53%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. Novanta has set its FY 2025 guidance at 3.240-3.300 EPS and its Q4 2025 guidance at 0.870-0.930 EPS. On average, sell-side analysts predict that Novanta Inc. will post 3.03 EPS for the current year.

Novanta announced that its board has authorized a share repurchase program on Thursday, September 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Novanta

Several institutional investors have recently added to or reduced their stakes in NOVT. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Novanta in the 3rd quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Novanta during the third quarter worth $40,000. Danske Bank A S bought a new position in Novanta during the third quarter worth $40,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Novanta in the second quarter valued at $52,000. Finally, Huntington National Bank boosted its position in Novanta by 65.7% during the second quarter. Huntington National Bank now owns 492 shares of the technology company’s stock valued at $63,000 after acquiring an additional 195 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NOVT shares. Zacks Research downgraded Novanta from a “hold” rating to a “strong sell” rating in a report on Thursday, December 18th. Weiss Ratings cut Novanta from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Sell” and an average price target of $133.00.

Novanta Company Profile

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.