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 securities 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, representing a total transaction value of approximately $275,148.
These sales were executed according to a pre-established Rule 10b5-1 trading plan, which Buckley adopted on March 12, 2024. The trades were executed in multiple transactions, 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, for a total of $22,848. As a result of these transactions, Buckley has direct ownership of 120,419 shares of Novanta common stock. InvestPro Subscribers gain access to 10 additional ProTips and comprehensive valuation metrics for Novanta, including detailed information on the company's financial health and growth prospects.
Separately, Novanta Incorporated reported a strong third-quarter performance with a 10% year-over-year increase in revenue, totaling $244 million. The company's adjusted EBITDA also increased 9% year-over-year to $57 million. Despite stagnant organic growth and temporary difficulties, Novanta anticipates a positive outlook in the medium and long term, particularly in advanced medical and industrial markets.
Novanta's third quarter results were supported by 13% growth in bookings, reflecting increased confidence from key OEM customers. The company also forecasts $50 million in new product revenue for 2025 and anticipates a significant increase in product launches. However, Novanta faces near-term challenges such as delays in DNA sequencing shipments and changes in product launch schedules.
Looking ahead, Novanta expects fourth-quarter 2024 revenue to be between $237 million and $242 million, with organic growth estimated between 2% and 4%. The company's full-year 2024 GAAP revenue is expected to be between $948 million and $953 million, an 8% year-over-year increase. Novanta also expects 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 more than $20 billion in potential revenue. These are among recent developments from Novanta Incorporated.
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