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

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,423 shares of the stock in a transaction on Wednesday, January 21st. The shares were 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 of the company’s stock, valued at approximately $12,757,504.76. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Novanta Stock Down 0.3%

NOVT opened at $137.89 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.54 and a current ratio of 2.51. The company has a market capitalization of $4.93 billion, a PE ratio of 93.80 and a beta of 1.60. The stock’s fifty day moving average is $119.97 and its 200-day moving average is $117.54. Novanta Inc. has a one year low of $98.27 and a one year high of $153.20.

Novanta (NASDAQ:NOVT) last released 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 firm had revenue of $247.84 million for the quarter, compared to analyst estimates of $245.95 million. During the same period in the previous year, the company earned $0.85 earnings per share. Novanta’s revenue was up 1.4% compared to the same quarter last year. 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, equities analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Novanta

Hedge funds have recently made changes to their positions in the company. Assetmark Inc. grew its position in Novanta by 22.4% during the 4th quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock worth $64,000 after purchasing an additional 99 shares in the last quarter. Arizona State Retirement System lifted 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 valued at $1,065,000 after purchasing an additional 171 shares in the last quarter. Huntington National Bank boosted its position 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 buying an additional 195 shares during the period. M&T Bank Corp grew its holdings in shares of Novanta by 6.6% during the second 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 in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Novanta by 17.2% during the third 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 in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

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.