300 Shares in Novanta Inc. (NASDAQ:NOVT) Bought by nVerses Capital LLC

nVerses Capital LLC bought a new position in Novanta Inc. (NASDAQ:NOVT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 300 shares of the technology company’s stock, valued at approximately $54,000.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Novanta news, CFO Robert Buckley sold 4,108 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $172.75, for a total value of $709,657.00. Following the sale, the chief financial officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 13,258 shares of company stock valued at $2,318,593 over the last ninety days. 1.20% of the stock is owned by company insiders.

Novanta Stock Down 2.0 %

Shares of NOVT opened at $175.03 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77. The company has a 50-day simple moving average of $175.82 and a 200-day simple moving average of $168.81. Novanta Inc. has a 52 week low of $111.20 and a 52 week high of $187.12. The firm has a market capitalization of $6.28 billion, a P/E ratio of 90.69 and a beta of 1.28.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.73 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 firm had revenue of $235.86 million during the quarter, compared to analysts’ expectations of $233.63 million. During the same quarter in the prior year, the firm posted $0.80 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Novanta Inc. will post 3.3 earnings per share for the current 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.