Key Points
- CEO Matthijs Glastra sold 6,177 shares on Jan. 9 at an average of $130 for a total of $803,010, cutting his stake by 7.26% to 78,867 shares (≈$10.25M).
- Novanta beat quarterly estimates with $0.87 EPS vs. $0.81 expected and $247.84M revenue, and issued FY2025 guidance of 3.240–3.300 EPS.
- The board approved a $200M share buyback (up to 4.9% of shares) even as analysts' consensus remains negative, with an average rating of "Sell" and an average price target of $133.00.
Novanta Inc. (NASDAQ:NOVT - Get Free Report) CEO Matthijs Glastra sold 6,177 shares of the company's stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $130.00, for a total value of $803,010.00. Following the sale, the chief executive officer owned 78,867 shares in the company, valued at approximately $10,252,710. This trade represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Matthijs Glastra also recently made the following trade(s):
- 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 Stock Performance
NASDAQ NOVT opened at $131.47 on Wednesday. The business's 50 day moving average price is $115.91 and its 200-day moving average price is $117.13. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $154.16. The company has a market cap of $4.70 billion, a P/E ratio of 89.44 and a beta of 1.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.54 and a current ratio of 2.51.
Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings data on Monday, November 3rd. The technology company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.81 by $0.06. Novanta had a net margin of 5.50% and a return on equity of 14.53%. The company had revenue of $247.84 million during the quarter, compared to analyst estimates of $245.95 million. During the same period in the previous year, the firm earned $0.85 earnings per share. Novanta's quarterly 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. Sell-side analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.
Novanta declared that its board has approved a share repurchase program on Thursday, September 18th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
Analyst Ratings Changes
NOVT has been the subject of several analyst reports. Zacks Research downgraded shares of Novanta from a "hold" rating to a "strong sell" rating in a research note on Thursday, December 18th. Weiss Ratings lowered Novanta from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Novanta has an average rating of "Sell" and an average price target of $133.00.
View Our Latest Report on Novanta
Institutional Investors Weigh In On Novanta
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Novanta by 4.6% in the third quarter. Vanguard Group Inc. now owns 4,378,888 shares of the technology company's stock valued at $438,546,000 after purchasing an additional 193,366 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Novanta by 15.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,579,626 shares of the technology company's stock worth $203,661,000 after buying an additional 214,374 shares during the period. Wasatch Advisors LP lifted its holdings in shares of Novanta by 10.6% in the 2nd quarter. Wasatch Advisors LP now owns 1,100,029 shares of the technology company's stock worth $141,827,000 after buying an additional 104,985 shares during the period. Geneva Capital Management LLC grew its position in shares of Novanta by 5.9% during the 2nd quarter. Geneva Capital Management LLC now owns 988,969 shares of the technology company's stock worth $127,508,000 after buying an additional 54,934 shares in the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Novanta by 5.5% during the second quarter. William Blair Investment Management LLC now owns 979,893 shares of the technology company's stock valued at $126,338,000 after buying an additional 51,005 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.
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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