Fmr LLC Acquires 4,489 Shares of Novanta Inc. (NASDAQ:NOVT)

FMR LLC lifted its holdings in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 127.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,025 shares of the technology company's stock after buying an additional 4,489 shares during the quarter. FMR LLC's holdings in Novanta were worth $1,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Novanta by 33.1% during the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company's stock worth $42,000 after acquiring an additional 59 shares in the last quarter. Essex Investment Management Co. LLC lifted its holdings in Novanta by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 23,379 shares of the technology company's stock worth $4,183,000 after purchasing an additional 80 shares in the last quarter. Bank of Montreal Can lifted its holdings in Novanta by 2.6% during the 2nd quarter. Bank of Montreal Can now owns 3,598 shares of the technology company's stock worth $599,000 after purchasing an additional 90 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Novanta by 1.3% in the 2nd quarter. Victory Capital Management Inc. now owns 7,526 shares of the technology company's stock worth $1,228,000 after purchasing an additional 99 shares during the period. Finally, Signaturefd LLC grew its holdings 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. 98.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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 Activity at Novanta

In related news, CEO Matthijs Glastra sold 7,500 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the transaction, the chief executive officer now directly owns 56,382 shares of the company's stock, valued at approximately $10,131,845.40. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert Buckley sold 1,111 shares of the business's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.45, for a total value of $200,479.95. Following the completion of the sale, the chief financial officer now owns 120,419 shares of the company's stock, valued at $21,729,608.55. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,271 shares of company stock valued at $2,185,107 over the last three months. 1.20% of the stock is owned by corporate insiders.

Novanta Price Performance

Shares of NOVT traded up $4.99 during mid-day trading on Monday, reaching $171.19. 223,896 shares of the stock traded hands, compared to its average volume of 147,326. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. Novanta Inc. has a 1 year low of $146.86 and a 1 year high of $187.12. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 102.64 and a beta of 1.26. The firm has a fifty day moving average price of $171.55 and a 200 day moving average price of $171.31.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $244.40 million during the quarter, compared to analysts' expectations of $242.33 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The firm's revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, equities research analysts predict that Novanta Inc. will post 3.03 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.