Novanta (NASDAQ:NOVT) CFO Sells $199,419.22 in Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,423 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $140.14, for a total transaction of $199,419.22. Following the sale, the chief financial officer directly owned 91,034 shares of the company’s stock, valued at approximately $12,757,504.76. This trade represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Novanta Stock Performance

NASDAQ:NOVT opened at $137.89 on Monday. The company has a quick ratio of 1.54, a current ratio of 2.51 and a debt-to-equity ratio of 0.56. Novanta Inc. has a twelve month low of $98.27 and a twelve month high of $153.20. The company has a fifty day moving average of $119.97 and a 200-day moving average of $117.34. The firm has a market capitalization of $4.93 billion, a P/E ratio of 93.80 and a beta of 1.60.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings raised Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 20th. Zacks Research upgraded Novanta from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Novanta has an average rating of “Hold” and a consensus price target of $133.00.

Institutional Trading of Novanta

Several institutional investors and hedge funds have recently modified their holdings of NOVT. Assetmark Inc. lifted its position in Novanta by 22.4% in the fourth quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock valued at $64,000 after purchasing an additional 99 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Novanta by 1.6% in the third quarter. Arizona State Retirement System now owns 10,632 shares of the technology company’s stock worth $1,065,000 after purchasing an additional 171 shares during the last quarter. Huntington National Bank grew its holdings in shares of Novanta by 65.7% in the second quarter. Huntington National Bank now owns 492 shares of the technology company’s stock worth $63,000 after purchasing an additional 195 shares during the last quarter. M&T Bank Corp raised its holdings in Novanta by 6.6% during the 2nd quarter. M&T Bank Corp now owns 3,785 shares of the technology company’s stock valued at $488,000 after buying an additional 236 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Novanta by 17.2% during the 3rd quarter. Van ECK Associates Corp now owns 1,627 shares of the technology company’s stock valued at $163,000 after buying an additional 239 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

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.