Robert Buckley Sells 1,111 Shares of Novanta Inc. (NASDAQ:NOVT) Stock

Novanta Inc. (NASDAQ:NOVT) CFO Robert Buckley sold 1,111 shares of Novanta stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.45, for a total transaction of $200,479.95. Following the completion of the transaction, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $21,729,608.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Robert Buckley also recently made the following trade(s):

• On Tuesday, September 3rd, Robert Buckley sold 4,379 shares of Novanta stock. The shares were sold at an average price of $176.20, for a total transaction of $771,579.80.
• On Thursday, August 1st, Robert Buckley sold 4,108 shares of Novanta stock. The stock was sold at an average price of $172.75, for a total value of $709,657.00.
• On Tuesday, July 16th, Robert Buckley sold 1,830 shares of Novanta stock. The shares were sold at an average price of $180.18, for a total value of $329,729.40.
• On Friday, July 12th, Robert Buckley sold 1,830 shares of Novanta stock. The stock was sold at an average price of $170.19, for a total value of $311,447.70.

Novanta Stock Up 0.5 %

NOVT opened at $175.64 on Thursday. The firm has a market capitalization of $6.30 billion, a P/E ratio of 91.01 and a beta of 1.29. Novanta Inc. has a one year low of $111.20 and a one year high of $187.12. The company has a fifty day moving average price of $175.33 and a 200-day moving average price of $168.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $235.86 million for the quarter, compared to analyst estimates of $233.63 million. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. Equities research analysts expect that Novanta Inc. will post 3.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird upped their price target on Novanta from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th.

Institutional Investors Weigh In On Novanta

Several hedge funds have recently bought and sold shares of NOVT. Wells Fargo & Company MN lifted its holdings in shares of Novanta by 299.9% during the 4th quarter. Wells Fargo & Company MN now owns 61,912 shares of the technology company’s stock worth $10,427,000 after acquiring an additional 46,430 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Novanta by 16.3% in the 4th quarter. US Bancorp DE now owns 5,998 shares of the technology company’s stock worth $1,010,000 after purchasing an additional 839 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Novanta by 222.6% during the 4th quarter. Allianz Asset Management GmbH now owns 10,000 shares of the technology company’s stock valued at $1,684,000 after purchasing an additional 6,900 shares during the last quarter. TFO Wealth Partners LLC raised its holdings in shares of Novanta by 62,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 629 shares of the technology company’s stock valued at $106,000 after buying an additional 628 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in Novanta by 475.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 170,575 shares of the technology company’s stock worth $28,727,000 after buying an additional 140,931 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Novanta Company Profile

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.