Natixis Advisors LLC Boosts Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Natixis Advisors LLC raised its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 1.7% during the third quarter, HoldingsChannel reports. The firm owned 25,957 shares of the technology company’s stock after purchasing an additional 434 shares during the period. Natixis Advisors LLC’s holdings in Novanta were worth $4,644,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Zions Bancorporation N.A. grew its position in shares of Novanta by 4.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 11,725 shares of the technology company’s stock worth $2,098,000 after buying an additional 546 shares during the last quarter. KBC Group NV grew its position in shares of Novanta by 14.9% in the 3rd quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock worth $189,000 after buying an additional 137 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Novanta by 2.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 24,147 shares of the technology company’s stock worth $4,320,000 after buying an additional 620 shares during the last quarter. Geneva Capital Management LLC grew its position in shares of Novanta by 1.1% in the 3rd quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company’s stock worth $139,566,000 after buying an additional 8,574 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Novanta by 13.1% in the 3rd quarter. Victory Capital Management Inc. now owns 8,512 shares of the technology company’s stock worth $1,523,000 after buying an additional 986 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Stock Up 3.1 %

NASDAQ:NOVT opened at $169.79 on Friday. The company has a market cap of $6.10 billion, a PE ratio of 98.71 and a beta of 1.29. Novanta Inc. has a twelve month low of $142.35 and a twelve month high of $187.12. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $173.80 and its two-hundred day moving average is $170.73.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. The company had revenue of $244.40 million for the quarter, compared to the consensus estimate of $242.33 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. Novanta’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. Analysts anticipate that Novanta Inc. will post 3.03 EPS for the current year.

Insiders Place Their Bets

In other Novanta news, CFO Robert Buckley sold 1,111 shares of Novanta stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $180.45, for a total transaction of $200,479.95. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $21,729,608.55. The trade was a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 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. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,650 shares of company stock valued at $2,956,686. 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 on the stock in a research report on Wednesday, November 6th.

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.