Insider Selling: Novanta (NASDAQ:NOVT) CEO Sells $1,047,345.00 in Stock

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 6,500 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $161.13, for a total transaction of $1,047,345.00. Following the sale, the chief executive officer directly owned 29,761 shares in the company, valued at $4,795,389.93. This trade represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $150.43, for a total transaction 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 transaction of $845,325.00.

Novanta Stock Up 2.1%

NASDAQ:NOVT opened at $151.66 on Friday. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 109.90 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.69 and a current ratio of 3.56. The stock’s fifty day moving average price is $154.47 and its two-hundred day moving average price is $138.17. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $171.85.

Novanta (NASDAQ:NOVT) last released its earnings results on Monday, May 11th. The technology company reported $0.81 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 analysts’ expectations of $253.40 million. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last 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, analysts anticipate that Novanta Inc. will post 3.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NOVT. Weiss Ratings restated a “hold (c-)” rating on shares of Novanta in a research report on Friday, April 17th. Robert W. Baird set a $180.00 target price on shares of Novanta in a research note on Tuesday, June 9th. Finally, Wall Street Zen upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $180.00.

Hedge Funds Weigh In On Novanta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Danske Bank A S acquired a new position in shares of Novanta during the 3rd quarter worth about $40,000. Allworth Financial LP raised its position in shares of Novanta by 978.4% in the 4th quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock valued at $47,000 after acquiring an additional 362 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Novanta by 120.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company’s stock valued at $51,000 after acquiring an additional 233 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in Novanta during the 4th quarter worth approximately $53,000. Finally, Harbor Investment Advisory LLC bought a new position in Novanta during the 2nd quarter worth approximately $54,000. Institutional investors own 98.35% of the company’s stock.

About Novanta

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.