Novanta Inc. (NASDAQ:NOVT) Stock Position Lifted by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 249,661 shares of the technology company’s stock after purchasing an additional 5,439 shares during the quarter. Sei Investments Co. owned about 0.70% of Novanta worth $40,722,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of Novanta in the 1st quarter worth approximately $32,000. Headlands Technologies LLC acquired a new stake in Novanta in the first quarter worth approximately $52,000. Signaturefd LLC increased its position in shares of 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 purchasing an additional 100 shares during the period. YHB Investment Advisors Inc. acquired a new position in shares of Novanta during the 1st quarter valued at $81,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Novanta in the 1st quarter worth $90,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Buying and Selling

In other Novanta news, CEO Matthijs Glastra sold 1,086 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $160.84, for a total value of $174,672.24. Following the completion of the transaction, the chief executive officer now directly owns 23,486 shares in the company, valued at $3,777,488.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Matthijs Glastra sold 1,086 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $160.84, for a total value of $174,672.24. Following the completion of the sale, the chief executive officer now owns 23,486 shares in the company, valued at $3,777,488.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Buckley sold 1,830 shares of Novanta stock in a transaction on Friday, July 12th. The shares were sold at an average price of $170.19, for a total value of $311,447.70. Following the transaction, the chief financial officer now owns 120,419 shares in the company, valued at approximately $20,494,109.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,063 shares of company stock valued at $2,591,881. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Novanta Trading Up 1.0 %

Shares of NASDAQ:NOVT opened at $176.36 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 91.38 and a beta of 1.29. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $187.12. The company has a 50 day moving average price of $175.88 and a 200 day moving average price of $168.41.

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

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.