Matthijs Glastra Sells 7,500 Shares of Novanta (NASDAQ:NOVT) Stock

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $145.04, for a total value of $1,087,800.00. Following the completion of the sale, the chief executive officer directly owned 57,367 shares of the company’s stock, valued at approximately $8,320,509.68. The trade was a 11.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, January 21st, Matthijs Glastra sold 7,500 shares of Novanta stock. The shares were sold at an average price of $140.00, for a total value of $1,050,000.00.
• 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 value 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 value of $42,035.22.

Novanta Price Performance

NOVT opened at $146.39 on Friday. The company’s 50-day simple moving average is $128.95 and its two-hundred day simple moving average is $118.82. 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 stock has a market capitalization of $5.24 billion, a P/E ratio of 99.59 and a beta of 1.62. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $153.20.

Hedge Funds Weigh In On Novanta

A number of institutional investors have recently bought and sold shares of the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Novanta during the third quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Novanta in the 3rd quarter worth approximately $40,000. Danske Bank A S purchased a new stake in Novanta during the 3rd quarter valued at approximately $40,000. Allworth Financial LP raised its position in shares of Novanta by 978.4% during the fourth quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock valued at $47,000 after buying an additional 362 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Novanta by 120.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company’s stock worth $51,000 after buying an additional 233 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.