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

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 6,500 shares of Novanta stock in a transaction that occurred on Thursday, July 2nd. The shares were 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 of the company’s stock, valued at approximately $4,795,389.93. This represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 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 transaction of $845,325.00.

Novanta Stock Performance

Shares of NASDAQ:NOVT traded down $17.04 during trading on Tuesday, hitting $147.85. 931,197 shares of the stock traded hands, compared to its average volume of 472,019. The company has a quick ratio of 2.69, a current ratio of 3.56 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $153.42 and a two-hundred day moving average price of $137.55. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $171.85. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 107.14 and a beta of 1.67.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The firm had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. During the same period in the prior year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. As a group, equities analysts predict that Novanta Inc. will post 3.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbor Investment Advisory LLC acquired a new stake in Novanta in the 2nd quarter worth about $54,000. Central Pacific Bank Trust Division raised its holdings in shares of Novanta by 26.9% during the second quarter. Central Pacific Bank Trust Division now owns 4,207 shares of the technology company’s stock valued at $683,000 after acquiring an additional 892 shares during the last quarter. Summitry LLC lifted its position in shares of Novanta by 14.6% in the first quarter. Summitry LLC now owns 4,304 shares of the technology company’s stock valued at $508,000 after acquiring an additional 549 shares in the last quarter. Argent Capital Management LLC boosted its stake in shares of Novanta by 55.4% in the first quarter. Argent Capital Management LLC now owns 7,670 shares of the technology company’s stock worth $906,000 after acquiring an additional 2,735 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Novanta by 18.3% in the first quarter. Bank of America Corp DE now owns 456,241 shares of the technology company’s stock worth $53,887,000 after acquiring an additional 70,728 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.