Daiwa Securities Group Inc. Lowers Holdings in Novanta Inc. (NASDAQ:NOVT)

Daiwa Securities Group Inc. reduced its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,779 shares of the technology company’s stock after selling 1,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Novanta were worth $1,392,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Diversified Trust Co boosted its holdings in shares of Novanta by 3.4% in the 2nd quarter. Diversified Trust Co now owns 4,640 shares of the technology company’s stock valued at $757,000 after purchasing an additional 152 shares during the last quarter. Yarbrough Capital LLC boosted its holdings in Novanta by 38.0% in the second quarter. Yarbrough Capital LLC now owns 7,735 shares of the technology company’s stock valued at $1,262,000 after acquiring an additional 2,130 shares during the last quarter. Raymond James & Associates grew its position in Novanta by 3.5% during the second quarter. Raymond James & Associates now owns 50,640 shares of the technology company’s stock valued at $8,260,000 after acquiring an additional 1,720 shares during the period. Nisa Investment Advisors LLC increased its stake in Novanta by 12.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the technology company’s stock worth $192,000 after acquiring an additional 132 shares during the last quarter. Finally, Nicholas Company Inc. raised its holdings in shares of Novanta by 41.7% in the 2nd quarter. Nicholas Company Inc. now owns 19,915 shares of the technology company’s stock worth $3,248,000 after purchasing an additional 5,865 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Novanta

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

Novanta Stock Performance

Shares of NOVT stock opened at $166.98 on Friday. The company’s fifty day simple moving average is $173.26 and its 200-day simple moving average is $170.99. 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 Inc. has a 52 week low of $142.35 and a 52 week high of $187.12. The company has a market cap of $6.00 billion, a PE ratio of 99.99 and a beta of 1.29.

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

Analyst Ratings Changes

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

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.