Novanta Inc. (NASDAQ:NOVT) Shares Bought by Creative Planning

Creative Planning boosted its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 33.4% during the 3rd quarter, Holdings Channel reports. The firm owned 9,564 shares of the technology company’s stock after acquiring an additional 2,392 shares during the quarter. Creative Planning’s holdings in Novanta were worth $1,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of Novanta by 33.1% during the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after buying an additional 59 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Novanta during the 1st quarter worth about $52,000. Signaturefd LLC grew its stake in Novanta by 38.3% during the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock valued at $59,000 after purchasing an additional 100 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Novanta in the first quarter valued at about $90,000. Finally, Van ECK Associates Corp raised its stake in shares of Novanta by 47.6% in the second quarter. Van ECK Associates Corp now owns 750 shares of the technology company’s stock worth $122,000 after purchasing an additional 242 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Trading Up 0.6 %

Shares of Novanta stock opened at $177.22 on Wednesday. The stock has a market cap of $6.36 billion, a PE ratio of 91.82 and a beta of 1.28. The firm has a fifty day moving average price of $175.30 and a 200 day moving average price of $169.00. Novanta Inc. has a 1 year low of $111.20 and a 1 year high of $187.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73.

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

Insider Buying and Selling at Novanta

In other news, CFO Robert Buckley sold 4,108 shares of Novanta stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $172.75, for a total transaction of $709,657.00. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $20,802,382.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 13,258 shares of company stock valued at $2,318,593. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird upped their target price on Novanta from $170.00 to $175.00 and gave the company 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.