Separately, Zacks Investment Research downgraded shares of Novanta from a hold rating to a sell rating in a research report on Saturday, August 10th.
Novanta stock opened at $83.95 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.89 and a quick ratio of 1.74. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 38.87 and a beta of 1.51. Novanta has a one year low of $55.68 and a one year high of $96.31. The company’s fifty day moving average price is $76.76 and its two-hundred day moving average price is $83.31.
In other news, CFO Robert Buckley sold 16,277 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.06, for a total value of $1,482,183.62. Following the sale, the chief financial officer now directly owns 158,803 shares of the company’s stock, valued at $14,460,601.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthijs Glastra sold 30,100 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $93.21, for a total value of $2,805,621.00. Following the completion of the sale, the chief executive officer now directly owns 123,448 shares in the company, valued at $11,506,588.08. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
Several large investors have recently modified their holdings of NOVT. Assetmark Inc. acquired a new stake in shares of Novanta in the second quarter valued at about $26,000. Tower Research Capital LLC TRC bought a new stake in shares of Novanta in the second quarter valued at about $73,000. Bessemer Group Inc. bought a new stake in shares of Novanta in the second quarter valued at about $151,000. Institute for Wealth Management LLC. bought a new stake in shares of Novanta in the second quarter valued at about $211,000. Finally, Wolverine Trading LLC lifted its stake in shares of Novanta by 149.5% in the second quarter. Wolverine Trading LLC now owns 2,525 shares of the technology company’s stock valued at $238,000 after buying an additional 7,625 shares during the period. 87.26% of the stock is currently owned by institutional investors.
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.
Featured Story: What is a support level?
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.