Crossmark Global Holdings Inc. Sells 112 Shares of Novanta Inc. (NASDAQ:NOVT)

Crossmark Global Holdings Inc. lessened its holdings in Novanta Inc. (NASDAQ:NOVT) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,641 shares of the technology company’s stock after selling 112 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Novanta were worth $556,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in Novanta by 61.6% during the third quarter. Franklin Resources Inc. now owns 214,893 shares of the technology company’s stock worth $37,916,000 after acquiring an additional 81,942 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Novanta by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 734,728 shares of the technology company’s stock worth $131,457,000 after purchasing an additional 69,858 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Novanta by 110.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company’s stock worth $17,938,000 after purchasing an additional 52,573 shares in the last quarter. Barclays PLC lifted its holdings in Novanta by 215.1% during the 3rd quarter. Barclays PLC now owns 65,564 shares of the technology company’s stock valued at $11,731,000 after purchasing an additional 44,756 shares during the last quarter. Finally, DF Dent & Co. Inc. boosted its position in Novanta by 26.7% in the third quarter. DF Dent & Co. Inc. now owns 205,713 shares of the technology company’s stock valued at $36,806,000 after buying an additional 43,400 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Price Performance

Shares of NOVT stock opened at $148.85 on Friday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 89.13 and a beta of 1.28. Novanta Inc. has a 12 month low of $143.18 and a 12 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 stock has a 50-day moving average price of $158.38 and a 200 day moving average price of $169.25.

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

Analyst Ratings Changes

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

Insider Buying and Selling at Novanta

In other news, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 56,382 shares of the company’s stock, valued at $10,131,845.40. The trade was a 11.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Novanta Profile

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.