Key Points
- Novanta CEO Matthijs Glastra sold 7,500 shares on May 12 at an average price of $150.43, totaling about $1.13 million. The transaction was made under a pre-arranged Rule 10b5-1 plan.
- After the sale, Glastra still owned 42,761 shares worth about $6.43 million, reflecting a 14.92% decrease in his holdings. He had also sold 6,500 shares in a separate transaction on April 17.
- Novanta recently reported better-than-expected quarterly results, with EPS of $0.81 and revenue of $257.71 million, both ahead of estimates. Despite that, analyst sentiment remains cautious overall, with a Hold consensus and a target price of $173.
Novanta Inc. (NASDAQ:NOVT - Get Free Report) CEO Matthijs Glastra sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total transaction of $1,128,225.00. Following the sale, the chief executive officer owned 42,761 shares of the company's stock, valued at $6,432,537.23. This trade represents a 14.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Matthijs Glastra also recently made the following trade(s):
- On Friday, April 17th, Matthijs Glastra sold 6,500 shares of Novanta stock. The shares were sold at an average price of $130.05, for a total transaction of $845,325.00.
Novanta Stock Performance
Shares of NASDAQ NOVT opened at $155.71 on Friday. The firm has a 50 day moving average of $127.14 and a 200 day moving average of $126.20. The company has a current ratio of 3.56, a quick ratio of 2.80 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 112.83 and a beta of 1.62. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $165.56.
Novanta (NASDAQ:NOVT - Get Free Report) last announced its earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $257.71 million during the quarter, compared to analyst estimates of $253.40 million. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. On average, research analysts anticipate that Novanta Inc. will post 3.59 earnings per share for the current year.
Hedge Funds Weigh In On Novanta
A number of hedge funds and other institutional investors have recently modified their holdings of NOVT. AQR Capital Management LLC boosted its position in shares of Novanta by 78.9% during the first quarter. AQR Capital Management LLC now owns 4,231 shares of the technology company's stock worth $537,000 after acquiring an additional 1,866 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Novanta by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 419,037 shares of the technology company's stock worth $53,582,000 after acquiring an additional 6,533 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Novanta by 1,762.5% during the first quarter. Jane Street Group LLC now owns 61,631 shares of the technology company's stock worth $7,881,000 after acquiring an additional 58,322 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Novanta during the second quarter worth $528,000. Finally, Amundi boosted its position in shares of Novanta by 2.0% during the second quarter. Amundi now owns 18,042 shares of the technology company's stock worth $2,397,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 98.35% of the company's stock.
Analyst Ratings Changes
Several research analysts recently weighed in on NOVT shares. Zacks Research raised shares of Novanta from a "strong sell" rating to a "hold" rating in a report on Friday, January 16th. Robert W. Baird upped their target price on shares of Novanta from $144.00 to $173.00 and gave the stock an "outperform" rating in a report on Wednesday. Wall Street Zen downgraded shares of Novanta from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Novanta in a report on Friday, April 17th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $173.00.
Check Out Our Latest Research 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.
Featured Articles
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].
