BEDFORD, MA—Robert Buckley, Chief Financial Officer of Novanta Inc. (NASDAQ:), a $6 billion market cap technology company currently trading near its 52-week high of $187.12, recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. On December 4, Buckley sold 1,617 shares of Novanta common stock at a weighted-average price of $170.16 per share, amounting to a total transaction value of approximately $275,148.
These sales were conducted under a pre-established Rule 10b5-1 trading plan, which Buckley adopted on March 12, 2024. The transactions were executed in multiple trades, with prices ranging from $170.00 to $170.33.
In addition to the sales, Buckley exercised stock options to acquire 1,617 shares at a price of $14.13 per share, totaling $22,848. Following these transactions, Buckley holds a direct ownership of 120,419 shares of Novanta common stock. InvestingPro subscribers have access to 10 additional ProTips and comprehensive valuation metrics for Novanta, including detailed insights into the company’s financial health and growth prospects.
In other recent news, Novanta Incorporated reported a strong Q3 performance with a 10% increase in revenue year-over-year, totaling $244 million. The company’s adjusted EBITDA also rose by 9% from the previous year, reaching $57 million. Despite experiencing flat organic growth and temporary challenges, Novanta anticipates positive mid- to long-term prospects, especially within the medical and advanced industrial markets.
Novanta’s Q3 results were bolstered by a 13% growth in bookings, indicating increased confidence from major OEM customers. The company also projects $50 million in new product revenue for 2025 and anticipates a significant rise in product launches. However, Novanta is experiencing short-term challenges such as delays in DNA sequencing shipments and shifts in product launch schedules.
Looking ahead, Novanta expects Q4 2024 revenue to be between $237 million and $242 million, with organic growth estimated at 2% to 4%. The company’s full-year 2024 GAAP revenue is projected to be between $948 million and $953 million, marking an 8% increase year-over-year. Novanta also anticipates strong double-digit growth in the second half of 2025, driven by new product launches and improving market conditions.
Despite current macroeconomic uncertainties, Novanta remains optimistic about long-term growth, particularly in 2025. The company is actively pursuing acquisitions, targeting a pipeline of over $20 billion in potential revenue. These are among the recent developments for Novanta Incorporated.
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