Novanta Inc (NASDAQ:NOVT) CFO Robert Buckley sold 13,487 shares of the stock in a transaction on Monday, September 17th. The shares were sold at an average price of $72.90, for a total value of $983,202.30. Following the sale, the chief financial officer now owns 157,027 shares of the company’s stock, valued at approximately $11,447,268.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

NOVT traded up $2.33 during midday trading on Friday, hitting $64.11. 199,988 shares of the company were exchanged, compared to its average volume of 219,743. The company has a market capitalization of $2.37 billion, a P/E ratio of 40.07 and a beta of 1.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.14 and a current ratio of 3.18. Novanta Inc has a 1-year low of $43.65 and a 1-year high of $78.85.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. The company had revenue of $150.40 million for the quarter, compared to the consensus estimate of $147.26 million. Novanta had a return on equity of 19.99% and a net margin of 5.14%. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Analysts forecast that Novanta Inc will post 2 EPS for the current year.

NOVT has been the topic of several research reports. BidaskClub downgraded Novanta from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research downgraded Novanta from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, ValuEngine downgraded Novanta from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $64.00.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Novanta by 6.0% during the 2nd quarter. BlackRock Inc. now owns 2,171,173 shares of the technology company’s stock valued at $135,264,000 after acquiring an additional 123,401 shares during the period. Dimensional Fund Advisors LP lifted its stake in Novanta by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,060,073 shares of the technology company’s stock valued at $55,283,000 after buying an additional 22,134 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Novanta by 0.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 770,587 shares of the technology company’s stock valued at $48,008,000 after buying an additional 6,757 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Novanta by 0.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 553,591 shares of the technology company’s stock valued at $28,870,000 after buying an additional 1,470 shares in the last quarter. Finally, KAMES CAPITAL plc lifted its stake in Novanta by 4.3% in the 3rd quarter. KAMES CAPITAL plc now owns 520,625 shares of the technology company’s stock valued at $35,585,000 after buying an additional 21,284 shares in the last quarter. Hedge funds and other institutional investors own 85.75% of the company’s stock.

About Novanta

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.

Recommended Story: Why is the ex-dividend date different from the record date?

Receive News & Ratings for Novanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novanta and related companies with MarketBeat.com's FREE daily email newsletter.