Novanta (NASDAQ:NOVT) CEO Matthijs Glastra Sells 7,500 Shares of Stock

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 57,367 shares in the company, valued at $8,320,509.68. This represents a 11.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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 shares were sold at an average price of $130.14, for a total value of $42,035.22.

Novanta Trading Down 1.8%

NASDAQ NOVT opened at $139.29 on Friday. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $153.20. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.54 and a current ratio of 2.51. The stock’s 50 day moving average price is $128.34 and its two-hundred day moving average price is $118.67. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 94.76 and a beta of 1.62.

Analyst Upgrades and Downgrades

Several brokerages have commented on NOVT. Zacks Research raised shares of Novanta from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Weiss Ratings raised Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Novanta currently has a consensus rating of “Hold” and an average price target of $133.00.

Institutional Trading of Novanta

A number of large investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new stake in shares of Novanta in the second quarter valued at about $340,000. Teacher Retirement System of Texas boosted its holdings in Novanta by 51.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,666 shares of the technology company’s stock valued at $1,246,000 after purchasing an additional 3,272 shares during the period. Bessemer Group Inc. grew its position in shares of Novanta by 24.8% during the 3rd quarter. Bessemer Group Inc. now owns 222,391 shares of the technology company’s stock worth $22,272,000 after purchasing an additional 44,252 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Novanta by 22.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 178,375 shares of the technology company’s stock worth $17,864,000 after purchasing an additional 32,278 shares in the last quarter. Finally, Atika Capital Management LLC bought a new position in shares of Novanta during the second quarter worth approximately $1,367,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Company Profile

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.