Novanta Inc. (NOVT) Director Sells $26,275,000.00 in Stock
Novanta Inc. (NASDAQ:NOVT) Director Stephen W. Bershad sold 500,000 shares of Novanta stock in a transaction on Monday, November 27th. The shares were sold at an average price of $52.55, for a total value of $26,275,000.00. Following the completion of the transaction, the director now owns 1,711,648 shares in the company, valued at $89,947,102.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Novanta Inc. (NASDAQ NOVT) opened at $48.10 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.00 and a current ratio of 2.93. The firm has a market capitalization of $1,843.76, a PE ratio of 35.07 and a beta of 1.29. Novanta Inc. has a one year low of $19.85 and a one year high of $55.10.
Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The business had revenue of $146.30 million for the quarter, compared to the consensus estimate of $132.10 million. Novanta had a return on equity of 18.29% and a net margin of 12.45%. The company’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. equities research analysts forecast that Novanta Inc. will post 1.56 earnings per share for the current year.
Several hedge funds have recently modified their holdings of NOVT. Neuberger Berman Group LLC acquired a new position in shares of Novanta during the third quarter valued at approximately $13,819,000. California Public Employees Retirement System grew its position in Novanta by 19.7% in the third quarter. California Public Employees Retirement System now owns 30,400 shares of the technology company’s stock worth $1,325,000 after acquiring an additional 5,000 shares during the period. Bamco Inc. NY lifted its stake in Novanta by 14.8% during the third quarter. Bamco Inc. NY now owns 185,900 shares of the technology company’s stock worth $8,105,000 after purchasing an additional 23,900 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Novanta in the third quarter valued at $240,000. Finally, Caxton Associates LP acquired a new stake in shares of Novanta in the third quarter valued at $283,000. 79.03% of the stock is owned by institutional investors and hedge funds.
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Novanta Company Profile
Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.
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