GHP Investment Advisors Inc. Buys New Shares in Novanta Inc. (NASDAQ:NOVT)

GHP Investment Advisors Inc. bought a new position in shares of Novanta Inc. (NASDAQ:NOVT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 273 shares of the technology company’s stock, valued at approximately $49,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Novanta by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after purchasing an additional 45,937 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Novanta during the first quarter worth $780,000. SG Americas Securities LLC lifted its stake in Novanta by 750.4% in the first quarter. SG Americas Securities LLC now owns 15,588 shares of the technology company’s stock valued at $2,724,000 after acquiring an additional 13,755 shares during the last quarter. Clearline Capital LP grew its position in shares of Novanta by 71.1% in the 2nd quarter. Clearline Capital LP now owns 11,497 shares of the technology company’s stock valued at $1,875,000 after acquiring an additional 4,778 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Novanta by 3.5% during the 2nd quarter. Raymond James & Associates now owns 50,640 shares of the technology company’s stock worth $8,260,000 after purchasing an additional 1,720 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Stock Up 1.9 %

NOVT opened at $176.25 on Tuesday. The stock’s fifty day simple moving average is $175.39 and its 200 day simple moving average is $168.94. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $187.12. The stock has a market cap of $6.33 billion, a PE ratio of 91.32 and a beta of 1.28. The company has a current ratio of 2.77, a quick ratio of 1.73 and a debt-to-equity ratio of 0.68.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The company had revenue of $235.86 million during the quarter, compared to analysts’ expectations of $233.63 million. Novanta had a net margin of 6.91% and a return on equity of 15.77%. Novanta’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. As a group, research analysts expect that Novanta Inc. will post 3.3 earnings per share for the current year.

Insider Transactions at Novanta

In other news, CFO Robert Buckley sold 1,111 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.45, for a total transaction of $200,479.95. Following the transaction, the chief financial officer now owns 120,419 shares in the company, valued at approximately $21,729,608.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 13,258 shares of company stock worth $2,318,593 over the last quarter. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted their price target on Novanta from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th.

Novanta Profile

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.