Key Points
- Novanta CEO Matthijs Glastra sold 6,500 shares on July 2 for about $1.05 million at an average price of $161.13. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still owned 29,761 shares afterward.
- Novanta shares fell 10.3% in the session referenced, opening at $147.85. The stock has traded between $98.27 and $171.85 over the past year and currently carries a market cap of about $5.58 billion.
- The company recently beat quarterly earnings expectations, reporting $0.81 EPS versus $0.78 expected on revenue of $257.71 million. Analysts currently rate the stock a Hold on average, with a consensus price target of $180.
Novanta Inc. (NASDAQ:NOVT - Get Free Report) CEO Matthijs Glastra sold 6,500 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $161.13, for a total value of $1,047,345.00. Following the transaction, the chief executive officer owned 29,761 shares in the company, valued at $4,795,389.93. This represents a 17.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Matthijs Glastra also recently made the following trade(s):
- On Tuesday, May 12th, Matthijs Glastra sold 7,500 shares of Novanta stock. The shares were sold at an average price of $150.43, for a total value of $1,128,225.00.
- On Friday, April 17th, Matthijs Glastra sold 6,500 shares of Novanta stock. The stock was sold at an average price of $130.05, for a total value of $845,325.00.
Novanta Trading Down 10.3%
Shares of NASDAQ:NOVT opened at $147.85 on Wednesday. The business's 50 day moving average price is $153.70 and its 200-day moving average price is $137.75. Novanta Inc. has a 1 year low of $98.27 and a 1 year high of $171.85. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 107.14 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.56 and a quick ratio of 2.69.
Novanta (NASDAQ:NOVT - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 EPS for the quarter, topping 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 revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. 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, equities research analysts forecast that Novanta Inc. will post 3.59 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Novanta in a research note on Friday, April 17th. Wall Street Zen upgraded Novanta from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Finally, Robert W. Baird set a $180.00 target price on shares of Novanta in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $180.00.
View Our Latest Report on Novanta
Hedge Funds Weigh In On Novanta
Several large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its position in shares of Novanta by 27.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,776,694 shares of the technology company's stock worth $210,307,000 after purchasing an additional 377,232 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in Novanta by 3.4% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,458,259 shares of the technology company's stock worth $173,518,000 after buying an additional 47,540 shares during the period. State Street Corp boosted its stake in Novanta by 1.0% during the fourth quarter. State Street Corp now owns 1,319,474 shares of the technology company's stock worth $157,004,000 after buying an additional 13,603 shares during the period. Wasatch Advisors LP increased its position in shares of 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 acquiring an additional 104,985 shares during the last quarter. Finally, Bamco Inc. NY increased its position in shares of Novanta by 49.4% during the fourth quarter. Bamco Inc. NY now owns 936,962 shares of the technology company's stock valued at $111,489,000 after acquiring an additional 309,869 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.
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.
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