Key Points
- Matthijs Glastra, Novanta’s CEO, sold 7,500 shares on Jan. 21 at an average price of $140 for a total of $1,050,000, cutting his position by 9.51% to 71,367 shares (worth about $9.99M).
- Glastra made additional January sales—6,177 shares on Jan. 9 at $130 (~$803,010) and 323 shares on Jan. 8 at $130.14 (~$42,035)—totaling roughly $1.9 million in insider sales this month.
- Novanta recently beat quarterly EPS estimates ($0.87 vs. $0.81) and set FY2025 guidance of 3.240–3.300 EPS; analysts hold a consensus "Hold" rating with a $133 price target.
Novanta Inc. (NASDAQ:NOVT - Get Free Report) CFO Robert Buckley sold 1,423 shares of the company's stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $140.14, for a total value of $199,419.22. Following the completion of the transaction, the chief financial officer owned 91,034 shares in the company, valued at $12,757,504.76. This represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Novanta Price Performance
NASDAQ NOVT opened at $137.89 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.51 and a quick ratio of 1.54. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 93.80 and a beta of 1.60. The company has a 50 day simple moving average of $119.97 and a 200-day simple moving average of $117.54. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $153.20.
Novanta (NASDAQ:NOVT - Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The technology company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. Novanta had a net margin of 5.50% and a return on equity of 14.53%. The firm had revenue of $247.84 million for the quarter, compared to the consensus estimate of $245.95 million. During the same period in the previous year, the firm posted $0.85 earnings per share. The firm's 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. Equities research analysts predict that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.
Institutional Trading of Novanta
Several large investors have recently made changes to their positions in NOVT. Vanguard Group Inc. increased its holdings in shares of Novanta by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,378,888 shares of the technology company's stock valued at $438,546,000 after acquiring an additional 193,366 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in 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 purchasing an additional 214,374 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Novanta by 75.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company's stock worth $155,536,000 after purchasing an additional 604,055 shares during the period. Wasatch Advisors LP grew its holdings in Novanta by 10.6% during 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 during the last quarter. Finally, Geneva Capital Management LLC grew its holdings in Novanta by 5.9% during 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 during the last quarter. Institutional investors own 98.35% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on NOVT. Weiss Ratings upgraded Novanta from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday. Zacks Research raised Novanta from a "strong sell" rating to a "hold" rating in a research note on Friday, January 16th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $133.00.
Read Our Latest Report on NOVT
Novanta Company Profile
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
