Bank of Montreal Can Buys 90 Shares of Novanta Inc. (NASDAQ:NOVT)

Bank of Montreal Can boosted its position in shares of Novanta Inc. (NASDAQ:NOVT) by 2.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,598 shares of the technology company’s stock after purchasing an additional 90 shares during the quarter. Bank of Montreal Can’s holdings in Novanta were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Novanta by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after buying an additional 45,937 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Novanta in the first quarter valued at approximately $780,000. SG Americas Securities LLC raised its stake in Novanta by 750.4% in the first quarter. SG Americas Securities LLC now owns 15,588 shares of the technology company’s stock valued at $2,724,000 after purchasing an additional 13,755 shares in the last quarter. Raymond James & Associates raised its position in shares of Novanta by 3.5% in the 2nd quarter. Raymond James & Associates now owns 50,640 shares of the technology company’s stock valued at $8,260,000 after buying an additional 1,720 shares in the last quarter. Finally, Wasatch Advisors LP increased its stake in shares of Novanta by 4.0% in the 1st quarter. Wasatch Advisors LP now owns 958,774 shares of the technology company’s stock valued at $167,565,000 after purchasing an additional 37,238 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

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

Novanta Trading Down 0.2 %

NOVT opened at $174.56 on Wednesday. The company’s 50 day moving average price is $174.70 and its two-hundred day moving average price is $168.56. 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 capitalization of $6.27 billion, a price-to-earnings ratio of 90.45 and a beta of 1.28. Novanta Inc. has a fifty-two week low of $111.20 and a fifty-two week high of $187.12.

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

Insider Transactions at Novanta

In related news, CFO Robert Buckley sold 3,660 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $174.01, for a total transaction of $636,876.60. Following the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $20,954,110.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 16,918 shares of company stock valued at $2,959,770 over the last three months. Corporate 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.