Vanguard Personalized Indexing Management LLC Has $834,000 Holdings in Novanta Inc. (NASDAQ:NOVT)

Vanguard Personalized Indexing Management LLC increased its position in shares of Novanta Inc. (NASDAQ:NOVT) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,197 shares of the technology company’s stock after buying an additional 506 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Novanta were worth $834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOVT. Victory Capital Management Inc. lifted its position in shares of Novanta by 1.3% in the second quarter. Victory Capital Management Inc. now owns 7,526 shares of the technology company’s stock valued at $1,228,000 after buying an additional 99 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Novanta by 1.7% in the first quarter. New York State Teachers Retirement System now owns 5,876 shares of the technology company’s stock valued at $1,027,000 after purchasing an additional 100 shares during the last quarter. Signaturefd LLC raised its position in shares of 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. Retirement Systems of Alabama lifted its stake in shares of Novanta by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 44,969 shares of the technology company’s stock worth $7,859,000 after buying an additional 119 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Novanta by 12.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the technology company’s stock worth $192,000 after buying an additional 132 shares during the period. 98.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Novanta Stock Performance

Shares of NASDAQ NOVT opened at $177.15 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 91.79 and a beta of 1.29. The stock’s fifty day moving average price is $175.70 and its two-hundred day moving average price is $168.42. Novanta Inc. has a one year low of $111.20 and a one year high of $187.12.

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

Insider Activity at Novanta

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

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.