Novanta Inc. (NASDAQ:NOVT) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in shares of Novanta Inc. (NASDAQ:NOVT) by 13.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,512 shares of the technology company’s stock after buying an additional 986 shares during the quarter. Victory Capital Management Inc.’s holdings in Novanta were worth $1,523,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Diversified Trust Co raised its position in shares of Novanta by 3.4% during the 2nd quarter. Diversified Trust Co now owns 4,640 shares of the technology company’s stock valued at $757,000 after acquiring an additional 152 shares in the last quarter. Yarbrough Capital LLC raised its holdings in shares of Novanta by 38.0% during the second quarter. Yarbrough Capital LLC now owns 7,735 shares of the technology company’s stock worth $1,262,000 after purchasing an additional 2,130 shares during the period. Raymond James & Associates lifted 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 worth $8,260,000 after buying an additional 1,720 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Novanta by 12.6% in 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 last quarter. Finally, Nicholas Company Inc. boosted its holdings in shares of Novanta by 41.7% in the 2nd quarter. Nicholas Company Inc. now owns 19,915 shares of the technology company’s stock valued at $3,248,000 after buying an additional 5,865 shares during the period. Institutional investors own 98.35% of the company’s stock.

Novanta Price Performance

Shares of NOVT opened at $173.43 on Tuesday. Novanta Inc. has a 12 month low of $142.35 and a 12 month high of $187.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The stock has a fifty day moving average price of $173.77 and a 200 day moving average price of $170.94. The company has a market cap of $6.23 billion, a P/E ratio of 104.32 and a beta of 1.29.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Novanta

In related news, CFO Robert Buckley sold 4,379 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $176.20, for a total value of $771,579.80. Following the completion of the transaction, the chief financial officer now owns 120,419 shares in the company, valued at $21,217,827.80. This represents a 3.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction, the chief executive officer now directly owns 56,382 shares in the company, valued at approximately $10,131,845.40. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,650 shares of company stock worth $2,956,686. 1.20% of the stock is owned by company insiders.

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.