Insider Selling: Novanta (NASDAQ:NOVT) CEO Sells $1,050,000.00 in Stock

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $140.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief executive officer owned 71,367 shares of the company’s stock, valued at $9,991,380. The trade was a 9.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, January 9th, Matthijs Glastra sold 6,177 shares of Novanta stock. The shares were sold at an average price of $130.00, for a total transaction of $803,010.00.
• On Thursday, January 8th, Matthijs Glastra sold 323 shares of Novanta stock. The stock was sold at an average price of $130.14, for a total transaction of $42,035.22.

Novanta Stock Down 0.3%

Novanta stock opened at $137.89 on Monday. The firm has a 50 day simple moving average of $119.97 and a 200 day simple moving average of $117.34. The company has a current ratio of 2.51, a quick ratio of 1.54 and a debt-to-equity ratio of 0.56. Novanta Inc. has a 1-year low of $98.27 and a 1-year high of $153.20. The firm has a market capitalization of $4.93 billion, a price-to-earnings 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 return on equity of 14.53% and a net margin of 5.50%.The firm had revenue of $247.84 million during the quarter, compared to analyst estimates of $245.95 million. During the same period last year, the company earned $0.85 earnings per share. The business’s revenue for the quarter 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. On average, analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in Novanta by 1,291.4% during the fourth quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company’s stock valued at $58,000 after purchasing an additional 452 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Novanta by 22.4% during the 4th quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock worth $64,000 after acquiring an additional 99 shares during the last quarter. Third View Private Wealth LLC bought a new stake in shares of Novanta during the 4th quarter worth $210,000. Azzad Asset Management Inc. ADV purchased a new position in Novanta in the fourth quarter worth $207,000. Finally, Whalen Wealth Management Inc. bought a new position in Novanta in the fourth quarter valued at $285,000. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NOVT has been the subject of several recent analyst reports. Weiss Ratings raised shares of Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 20th. Zacks Research raised shares of Novanta from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.