Key Points
- On Feb 10, Novanta CEO Matthijs Glastra sold 7,500 shares at an average price of $145.04 for about $1.09M, leaving him with 57,367 shares — a reported 11.56% reduction in his ownership.
- Glastra has sold a total of 21,500 Novanta shares in recent weeks (Jan 8, Jan 9, Jan 21 and Feb 10), generating roughly $2.98M in proceeds.
- Novanta stock was trading around $139.29 (down 1.8%), carries a consensus Wall Street rating of Hold with a $133 target, and has a market cap near $4.98B with 98.35% institutional ownership.
Novanta Inc. (NASDAQ:NOVT - Get Free Report) CEO Matthijs Glastra sold 7,500 shares of the company's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $145.04, for a total value of $1,087,800.00. Following the sale, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Matthijs Glastra also recently made the following trade(s):
- On Wednesday, January 21st, Matthijs Glastra sold 7,500 shares of Novanta stock. The stock was 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 stock was 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 transaction of $42,035.22.
Novanta Trading Down 1.8%
Shares of Novanta stock opened at $139.29 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.51 and a debt-to-equity ratio of 0.56. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $153.20. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 94.76 and a beta of 1.62. The firm's 50-day moving average price is $128.34 and its two-hundred day moving average price is $118.67.
Institutional Trading of Novanta
Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its stake in shares of Novanta by 1,550.5% in the 4th quarter. Quadrant Capital Group LLC now owns 3,598 shares of the technology company's stock valued at $428,000 after acquiring an additional 3,380 shares during the last quarter. Brooklyn Investment Group bought a new stake in Novanta during the 4th quarter worth $353,000. Orion Porfolio Solutions LLC acquired a new position in Novanta in the 4th quarter worth about $1,027,000. SMA Capital LLC bought a new position in Novanta in the fourth quarter valued at about $4,641,000. Finally, Cibc World Markets Corp bought a new position in Novanta in the fourth quarter valued at about $284,000. Institutional investors own 98.35% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on NOVT shares. Zacks Research upgraded Novanta from a "strong sell" rating to a "hold" rating in a research note on Friday, January 16th. Weiss Ratings upgraded Novanta from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, January 20th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $133.00.
Read Our Latest Stock Analysis on Novanta
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.
Further Reading
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