Robert Buckley Sells 1,423 Shares of Novanta (NASDAQ:NOVT) Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,423 shares of the company’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 value of $199,419.22. Following the transaction, the chief financial officer directly owned 91,034 shares in the company, valued at approximately $12,757,504.76. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Novanta Trading Down 0.3%

Shares of Novanta stock opened at $137.89 on Friday. The stock has a market capitalization of $4.93 billion, a PE ratio of 93.80 and a beta of 1.60. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $153.20. The stock has a 50 day moving average price of $119.97 and a two-hundred day moving average price of $117.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.54 and a current ratio of 2.51.

Novanta (NASDAQ:NOVT) last issued its earnings results on Monday, November 3rd. The technology company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. Novanta had a return on equity of 14.53% and a net margin of 5.50%.The company had revenue of $247.84 million for the quarter, compared to analysts’ expectations of $245.95 million. Novanta’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $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. As a group, equities analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Novanta

Several large investors have recently made changes to their positions in the business. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Novanta during the 3rd quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Novanta during the third quarter worth about $40,000. Danske Bank A S bought a new stake in Novanta in the third quarter worth about $40,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Novanta in the second quarter worth about $52,000. Finally, Farther Finance Advisors LLC boosted its stake in Novanta by 1,291.4% in the fourth quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company’s stock valued at $58,000 after acquiring an additional 452 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.