Matthijs Glastra Sells 6,500 Shares of Novanta (NASDAQ:NOVT) Stock

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 6,500 shares of Novanta stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $161.13, for a total value of $1,047,345.00. Following the sale, the chief executive officer directly owned 29,761 shares in the company, valued at approximately $4,795,389.93. The trade was a 17.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 12th, Matthijs Glastra sold 7,500 shares of Novanta stock. The shares were sold at an average price of $150.43, for a total value of $1,128,225.00.
• On Friday, April 17th, Matthijs Glastra sold 6,500 shares of Novanta stock. The shares were sold at an average price of $130.05, for a total value of $845,325.00.

Novanta Price Performance

Shares of NASDAQ NOVT opened at $148.59 on Thursday. The company has a quick ratio of 2.69, a current ratio of 3.56 and a debt-to-equity ratio of 0.15. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $171.85. The business has a 50 day moving average price of $154.02 and a two-hundred day moving average price of $137.94. The firm has a market cap of $5.61 billion, a PE ratio of 107.67 and a beta of 1.67.

Novanta (NASDAQ:NOVT) last announced its earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $257.71 million for the quarter, compared to analyst estimates of $253.40 million. Novanta had a return on equity of 12.06% and a net margin of 5.35%.Novanta’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. Sell-side analysts expect that Novanta Inc. will post 3.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of Novanta from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Robert W. Baird set a $180.00 target price on shares of Novanta in a research note on Tuesday, June 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research report on Friday, April 17th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Novanta has a consensus rating of “Hold” and a consensus price target of $180.00.

Institutional Trading of Novanta

A number of institutional investors and hedge funds have recently modified their holdings of the business. Summit Creek Advisors LLC grew its position in shares of Novanta by 47.5% during the 4th quarter. Summit Creek Advisors LLC now owns 73,673 shares of the technology company’s stock valued at $8,766,000 after buying an additional 23,712 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Novanta by 75.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company’s stock worth $155,536,000 after acquiring an additional 604,055 shares during the last quarter. Legal & General Group Plc boosted its stake in Novanta by 7.8% in the fourth quarter. Legal & General Group Plc now owns 207,053 shares of the technology company’s stock valued at $24,637,000 after acquiring an additional 14,969 shares during the period. Truist Financial Corp boosted its stake in Novanta by 337.2% in the fourth quarter. Truist Financial Corp now owns 9,963 shares of the technology company’s stock valued at $1,185,000 after acquiring an additional 7,684 shares during the period. Finally, Clearline Capital LP grew its holdings in shares of Novanta by 73.7% during the third quarter. Clearline Capital LP now owns 234,372 shares of the technology company’s stock valued at $23,472,000 after purchasing an additional 99,406 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

About Novanta

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.