Stifel Financial Corp Sells 821 Shares of Novanta Inc. (NASDAQ:NOVT)

Stifel Financial Corp lowered its position in Novanta Inc. (NASDAQ:NOVT) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,506 shares of the technology company’s stock after selling 821 shares during the period. Stifel Financial Corp’s holdings in Novanta were worth $1,343,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Novanta by 33.1% in the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after acquiring an additional 59 shares during the period. GHP Investment Advisors Inc. purchased a new position in Novanta in the 3rd quarter worth approximately $49,000. nVerses Capital LLC bought a new position in Novanta in the 3rd quarter worth approximately $54,000. Signaturefd LLC grew its holdings in Novanta by 38.3% during the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock valued at $59,000 after buying an additional 100 shares in the last quarter. Finally, Van ECK Associates Corp raised its position 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 valued at $122,000 after buying an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Trading Up 0.0 %

Shares of Novanta stock opened at $153.50 on Friday. Novanta Inc. has a twelve month low of $146.86 and a twelve month high of $187.12. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $170.15 and a 200-day moving average price of $171.22. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 91.92 and a beta of 1.26.

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

Wall Street Analyst Weigh In

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

Insider Activity at Novanta

In other news, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 56,382 shares of the company’s stock, valued at $10,131,845.40. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Buckley sold 3,660 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $174.01, for a total value of $636,876.60. Following the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $20,954,110.19. This represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,271 shares of company stock valued at $2,185,107 over the last 90 days. 1.20% of the stock is owned by corporate insiders.

About Novanta

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.