Novanta Inc CFO Robert Buckley Sells 1,500 Shares
On February 7, 2024, Robert Buckley, the Chief Financial Officer of Novanta Inc (NASDAQ:NOVT), sold 1,500 shares of the company's stock, according to a recent SEC Filing. This transaction was executed in a single sale with the shares priced at $160.23 each, resulting in a total transaction value of $240,345.
Novanta Inc is a leading technology company that specializes in providing photonic and motion control components and subsystems to original equipment manufacturers (OEMs) in the medical and advanced industrial technology markets. The company's products are integral to a wide range of applications, including medical imaging, DNA sequencing, material processing, and robotics, among others.
Over the past year, the insider has sold a total of 24,000 shares of Novanta Inc and has not made any purchases of the stock. The recent sale by the insider is part of a trend observed over the past year, where there have been no insider buys and 10 insider sells.
Shares of Novanta Inc were trading at $160.23 on the day of the insider's recent sale, giving the company a market capitalization of $6.003 billion. The price-earnings ratio of the stock stands at 79.73, which is above both the industry median of 21.81 and the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, with a stock price of $160.23 and a GuruFocus Value of $178.92, Novanta Inc has a price-to-GF-Value ratio of 0.9, indicating that the stock is Fairly Valued based on its GF Value. The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The insider's recent sale could be of interest to investors monitoring insider transactions as an indicator of confidence in the company's future prospects. It is important to note that insider transactions are only one of many factors that investors may consider when evaluating a stock.
Investors and analysts often track insider selling to gain insights into a company's internal perspective. However, insider selling does not necessarily indicate a lack of confidence in the company; it could also be motivated by personal financial management or other non-company-specific reasons.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
