Xponance Inc. Decreases Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Xponance Inc. lowered its position in Novanta Inc. (NASDAQ:NOVT) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,841 shares of the technology company’s stock after selling 307 shares during the period. Xponance Inc.’s holdings in Novanta were worth $790,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in Novanta in the first quarter worth $32,000. Headlands Technologies LLC purchased a new position in Novanta during the 1st quarter worth $52,000. Signaturefd LLC increased its position 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 buying an additional 100 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in Novanta in the first quarter valued at about $81,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Novanta in the first quarter worth about $90,000. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling

In related news, CFO Robert Buckley sold 4,379 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $176.20, for a total value of $771,579.80. Following the transaction, the chief financial officer now owns 120,419 shares in the company, valued at approximately $21,217,827.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Robert Buckley sold 4,379 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $176.20, for a total value of $771,579.80. Following the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $21,217,827.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthijs Glastra sold 1,086 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $160.84, for a total transaction of $174,672.24. Following the transaction, the chief executive officer now directly owns 23,486 shares of the company’s stock, valued at approximately $3,777,488.24. The disclosure for this sale can be found here. Insiders sold 15,063 shares of company stock valued at $2,591,881 over the last quarter. 1.20% of the stock is currently owned by company insiders.

Novanta Trading Down 1.0 %

NASDAQ:NOVT opened at $176.47 on Friday. The company has a market capitalization of $6.33 billion, a P/E ratio of 91.44 and a beta of 1.29. The company has a current ratio of 2.77, a quick ratio of 1.73 and a debt-to-equity ratio of 0.68. Novanta Inc. has a 12 month low of $111.20 and a 12 month high of $187.12. The firm has a fifty day simple moving average of $175.59 and a 200-day simple moving average of $168.53.

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

Wall Street Analysts Forecast Growth

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

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.