Novanta Inc. (NASDAQ:NOVT) Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in Novanta Inc. (NASDAQ:NOVT) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,100 shares of the technology company’s stock after selling 500 shares during the period. Swiss National Bank owned approximately 0.20% of Novanta worth $12,542,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NOVT. GAMMA Investing LLC lifted its position in Novanta by 33.1% during the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after buying an additional 59 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in Novanta during the 3rd quarter worth $49,000. nVerses Capital LLC acquired a new stake in Novanta in the 3rd quarter valued at $54,000. Signaturefd LLC raised its position in Novanta by 38.3% in the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock valued at $59,000 after purchasing an additional 100 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Novanta by 47.6% during the second quarter. Van ECK Associates Corp now owns 750 shares of the technology company’s stock worth $122,000 after purchasing an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their target price on Novanta from $175.00 to $169.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th.

Novanta Trading Up 3.1 %

NASDAQ NOVT opened at $169.79 on Friday. The company’s fifty day simple moving average is $173.77 and its 200-day simple moving average is $170.79. The stock has a market cap of $6.10 billion, a P/E ratio of 101.67 and a beta of 1.29. Novanta Inc. has a 52 week low of $142.35 and a 52 week high of $187.12. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company had revenue of $244.40 million during the quarter, compared to analysts’ expectations of $242.33 million. During the same period in the prior year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Insider Buying and Selling at Novanta

In other news, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.70, for a total value of $1,347,750.00. Following the sale, the chief executive officer now owns 56,382 shares in the company, valued at approximately $10,131,845.40. This represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Buckley sold 1,111 shares of Novanta stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.45, for a total value of $200,479.95. Following the completion of the transaction, the chief financial officer now owns 120,419 shares of the company’s stock, valued at $21,729,608.55. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,650 shares of company stock worth $2,956,686 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

About Novanta

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.