KBC Group NV Buys 441 Shares of Novanta Inc. (NASDAQ:NOVT)

KBC Group NV lifted its position in Novanta Inc. (NASDAQ:NOVT) by 41.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the technology company’s stock after buying an additional 441 shares during the period. KBC Group NV’s holdings in Novanta were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NOVT. Exchange Traded Concepts LLC boosted its position in Novanta by 4.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company’s stock worth $18,419,000 after purchasing an additional 4,648 shares during the last quarter. Argent Capital Management LLC lifted its stake in shares of Novanta by 35.9% in the 4th quarter. Argent Capital Management LLC now owns 3,956 shares of the technology company’s stock worth $604,000 after purchasing an additional 1,045 shares during the period. Franklin Resources Inc. grew its position in Novanta by 61.6% during the third quarter. Franklin Resources Inc. now owns 214,893 shares of the technology company’s stock valued at $37,916,000 after buying an additional 81,942 shares during the period. Tidal Investments LLC increased its holdings in Novanta by 61.8% during the third quarter. Tidal Investments LLC now owns 6,469 shares of the technology company’s stock valued at $1,157,000 after buying an additional 2,471 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Novanta in the third quarter worth approximately $232,000. Institutional investors own 98.35% of the company’s stock.

Novanta Stock Performance

Shares of NOVT opened at $147.87 on Wednesday. Novanta Inc. has a 52 week low of $143.18 and a 52 week high of $187.12. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 88.55 and a beta of 1.28. The business has a 50-day simple moving average of $155.66 and a two-hundred day simple moving average of $167.95.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. The company 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 firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. On average, analysts expect that Novanta Inc. will post 3.03 EPS for the current year.

Insider Activity

In related news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the sale, the chief executive officer now owns 56,382 shares of the company’s stock, valued at approximately $10,131,845.40. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Novanta Company Profile

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.