Atria Investments Inc Has $529,000 Stake in Novanta Inc. (NASDAQ:NOVT)

Atria Investments Inc lowered its position in Novanta Inc. (NASDAQ:NOVT) by 26.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,959 shares of the technology company’s stock after selling 1,067 shares during the quarter. Atria Investments Inc’s holdings in Novanta were worth $529,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Novanta by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock valued at $674,860,000 after acquiring an additional 45,937 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Novanta by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company’s stock valued at $350,836,000 after acquiring an additional 79,718 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in Novanta by 1.6% in the third quarter. Conestoga Capital Advisors LLC now owns 1,350,651 shares of the technology company’s stock valued at $241,658,000 after acquiring an additional 20,825 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Novanta by 0.4% in the second quarter. William Blair Investment Management LLC now owns 960,152 shares of the technology company’s stock valued at $156,610,000 after acquiring an additional 4,079 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Novanta by 10.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 734,728 shares of the technology company’s stock valued at $131,457,000 after acquiring an additional 69,858 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price target on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th.

Insider Buying and Selling

In related news, CFO Robert Buckley sold 1,111 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $180.45, for a total transaction of $200,479.95. Following the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $21,729,608.55. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the completion of the transaction, the chief executive officer now directly owns 56,382 shares in the company, valued at approximately $10,131,845.40. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,650 shares of company stock valued at $2,956,686. 1.20% of the stock is owned by company insiders.

Novanta Stock Performance

NASDAQ NOVT opened at $165.72 on Wednesday. The firm has a 50-day moving average of $173.97 and a 200-day moving average of $170.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. The stock has a market cap of $5.95 billion, a PE ratio of 98.44 and a beta of 1.29. Novanta Inc. has a 52-week low of $140.92 and a 52-week high of $187.12.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company had revenue of $244.40 million during the quarter, compared to analysts’ expectations of $242.33 million. During the same quarter last year, the company posted $0.85 EPS. Novanta’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Novanta Inc. will post 3.03 EPS for the current year.

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.