Novanta Inc. (NASDAQ:NOVT) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 439,390 shares of the technology company’s stock after buying an additional 4,271 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.22% of Novanta worth $78,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake 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 acquiring an additional 59 shares during the period. GHP Investment Advisors Inc. acquired a new position in shares of Novanta during the 3rd quarter valued at $49,000. nVerses Capital LLC bought a new stake in shares of Novanta in the 3rd quarter worth $54,000. Signaturefd LLC lifted its holdings in shares of Novanta by 38.3% in the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock valued at $59,000 after buying an additional 100 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Novanta by 47.6% during the second quarter. Van ECK Associates Corp now owns 750 shares of the technology company’s stock valued at $122,000 after buying an additional 242 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Novanta Trading Down 1.6 %

Shares of NASDAQ:NOVT opened at $164.03 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 98.22 and a beta of 1.29. Novanta Inc. has a 1-year low of $142.35 and a 1-year high of $187.12. The company has a 50 day moving average price of $173.62 and a 200 day moving average price of $171.01.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business had revenue of $244.40 million during the quarter, compared to analyst estimates of $242.33 million. During the same period last year, the company posted $0.85 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert Buckley sold 4,379 shares of Novanta stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $176.20, for a total transaction 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 trade was a 3.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 56,382 shares in the company, valued at $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 worth $2,956,686. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their price target 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 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.