nVerses Capital LLC Purchases New Holdings in Novanta Inc. (NASDAQ:NOVT)

nVerses Capital LLC acquired a new position in Novanta Inc. (NASDAQ:NOVT) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 300 shares of the technology company’s stock, valued at approximately $54,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOVT. Creative Planning boosted its position in shares of Novanta by 33.4% in the third quarter. Creative Planning now owns 9,564 shares of the technology company’s stock worth $1,711,000 after buying an additional 2,392 shares during the period. Essex Investment Management Co. LLC lifted its stake in Novanta by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 23,379 shares of the technology company’s stock worth $4,183,000 after acquiring an additional 80 shares in the last quarter. GAMMA Investing LLC lifted its stake in Novanta by 33.1% in the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after acquiring an additional 59 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Novanta by 7.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 8,411 shares of the technology company’s stock worth $1,505,000 after acquiring an additional 600 shares during the period. Finally, SG Americas Securities LLC grew its stake in Novanta by 632.0% during the 3rd quarter. SG Americas Securities LLC now owns 5,907 shares of the technology company’s stock valued at $1,057,000 after acquiring an additional 5,100 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Novanta

In other news, CFO Robert Buckley sold 3,660 shares of the stock in a transaction on 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 owns 120,419 shares in the company, valued at $20,954,110.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 13,258 shares of company stock worth $2,318,593 over the last ninety days. 1.20% of the stock is currently owned by insiders.

Novanta Trading Down 2.0 %

Novanta stock opened at $175.03 on Tuesday. Novanta Inc. has a 12 month low of $111.20 and a 12 month high of $187.12. The company has a quick ratio of 1.73, a current ratio of 2.77 and a debt-to-equity ratio of 0.68. The stock has a market cap of $6.28 billion, a P/E ratio of 90.69 and a beta of 1.28. The company’s fifty day simple moving average is $175.82 and its 200-day simple moving average is $168.81.

Novanta (NASDAQ:NOVT) last issued its earnings results 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 company had revenue of $235.86 million for 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 business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. As a group, sell-side analysts forecast that Novanta Inc. will post 3.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Novanta Company 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.