Novanta Inc (NASDAQ:NOVT) CFO Robert Buckley sold 16,277 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $91.06, for a total transaction of $1,482,183.62. Following the completion of the sale, the chief financial officer now directly owns 158,803 shares of the company’s stock, valued at $14,460,601.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of NASDAQ NOVT opened at $87.12 on Friday. Novanta Inc has a twelve month low of $55.68 and a twelve month high of $96.31. The company has a quick ratio of 1.78, a current ratio of 2.83 and a debt-to-equity ratio of 0.61. The firm has a market cap of $3.17 billion, a P/E ratio of 40.33 and a beta of 1.53. The firm has a 50-day simple moving average of $86.77.
Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. Novanta had a net margin of 7.92% and a return on equity of 19.26%. The company had revenue of $157.20 million during the quarter, compared to the consensus estimate of $155.85 million. During the same period in the prior year, the company earned $0.47 EPS. Novanta’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts anticipate that Novanta Inc will post 2.41 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio lifted its holdings in Novanta by 340.0% in the 1st quarter. Strs Ohio now owns 2,200 shares of the technology company’s stock valued at $186,000 after acquiring an additional 1,700 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Novanta by 98.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,379 shares of the technology company’s stock valued at $202,000 after acquiring an additional 1,183 shares during the last quarter. BB&T Corp acquired a new stake in Novanta in the 1st quarter valued at about $227,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Novanta in the 4th quarter valued at about $202,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Novanta in the 1st quarter valued at about $286,000. 87.13% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, July 4th.
Novanta Company Profile
Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
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