Key Points
- CEO Matthijs Glastra sold 323 shares on Jan. 8 at an average price of $130.14 for $42,035, reducing his stake by 0.38% to 85,044 shares (≈$11.07M); the transaction was disclosed in an SEC filing.
- Novanta recently beat quarterly estimates with $0.87 EPS vs. $0.81 and $247.8M revenue vs. $246.0M, set FY2025 guidance of 3.240–3.300 EPS, and trades with a market cap of $4.61B and a P/E of 87.73.
- The board approved a $200M share buyback (up to 4.9% of shares), while analyst sentiment is weak — an average rating of "Sell" with a $133 target after recent downgrades.
Novanta Inc. (NASDAQ:NOVT - Get Free Report) CEO Matthijs Glastra sold 323 shares of the firm's stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $130.14, for a total value of $42,035.22. Following the completion of the sale, the chief executive officer directly owned 85,044 shares of the company's stock, valued at approximately $11,067,626.16. The trade was a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Novanta Stock Performance
Shares of NASDAQ NOVT opened at $128.96 on Tuesday. The company has a current ratio of 2.51, a quick ratio of 1.54 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $4.61 billion, a P/E ratio of 87.73 and a beta of 1.60. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $154.16. The stock has a 50 day moving average of $115.87 and a 200-day moving average of $117.12.
Novanta (NASDAQ:NOVT - Get Free Report) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. Novanta had a return on equity of 14.53% and a net margin of 5.50%.The business had revenue of $247.84 million during the quarter, compared to the consensus estimate of $245.95 million. During the same quarter last year, the firm posted $0.85 EPS. The company's quarterly revenue 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. As a group, equities research analysts predict that Novanta Inc. will post 3.03 EPS for the current year.
Novanta declared that its Board of Directors has approved a share buyback plan on Thursday, September 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.
Analyst Ratings Changes
NOVT has been the subject of several research reports. Weiss Ratings downgraded shares of Novanta from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Saturday, October 25th. Zacks Research cut Novanta from a "hold" rating to a "strong sell" rating in a report on Thursday, December 18th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Novanta presently has an average rating of "Sell" and an average target price of $133.00.
Get Our Latest Stock Analysis on NOVT
Institutional Investors Weigh In On Novanta
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Novanta by 4.6% during the third quarter. Vanguard Group Inc. now owns 4,378,888 shares of the technology company's stock worth $438,546,000 after buying an additional 193,366 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Novanta by 15.7% in the second quarter. Conestoga Capital Advisors LLC now owns 1,579,626 shares of the technology company's stock worth $203,661,000 after purchasing an additional 214,374 shares during the period. Wasatch Advisors LP raised its stake in Novanta by 10.6% in the second quarter. Wasatch Advisors LP now owns 1,100,029 shares of the technology company's stock valued at $141,827,000 after purchasing an additional 104,985 shares in the last quarter. Geneva Capital Management LLC raised its stake in Novanta by 5.9% in the second quarter. Geneva Capital Management LLC now owns 988,969 shares of the technology company's stock valued at $127,508,000 after purchasing an additional 54,934 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in Novanta by 5.5% during the second quarter. William Blair Investment Management LLC now owns 979,893 shares of the technology company's stock worth $126,338,000 after purchasing an additional 51,005 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.
Novanta Company Profile
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Get Free Report)
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.
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