KBC Group NV Has $189,000 Stake in Novanta Inc. (NASDAQ:NOVT)

KBC Group NV raised its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 14.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,059 shares of the technology company’s stock after purchasing an additional 137 shares during the period. KBC Group NV’s holdings in Novanta were worth $189,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Novanta by 33.1% during the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after buying an additional 59 shares in the last quarter. GHP Investment Advisors Inc. bought a new position in shares of Novanta during the 3rd quarter worth approximately $49,000. nVerses Capital LLC bought a new position in shares of Novanta during the 3rd quarter worth approximately $54,000. Signaturefd LLC lifted its position in shares of Novanta by 38.3% during the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after buying an additional 100 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Novanta by 47.6% during the 2nd quarter. Van ECK Associates Corp now owns 750 shares of the technology company’s stock worth $122,000 after buying an additional 242 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their price target 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

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.70, for a total value of $1,347,750.00. Following the completion of the sale, the chief executive officer now owns 56,382 shares of the company’s stock, valued at approximately $10,131,845.40. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Buckley sold 3,660 shares of Novanta stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $174.01, for a total transaction of $636,876.60. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $20,954,110.19. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,650 shares of company stock valued at $2,956,686 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Novanta Stock Down 0.5 %

NOVT opened at $164.94 on Thursday. The company has a fifty day moving average price of $173.91 and a 200-day moving average price of $170.82. The firm has a market capitalization of $5.92 billion, a P/E ratio of 99.23 and a beta of 1.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. Novanta Inc. has a one year low of $141.95 and a one year high of $187.12.

Novanta (NASDAQ:NOVT) last announced 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 previous year, the business earned $0.85 earnings per share. Equities research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

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.