Intech Investment Management LLC Invests $948,000 in Novanta Inc. (NASDAQ:NOVT)

Intech Investment Management LLC acquired a new stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,301 shares of the technology company's stock, valued at approximately $948,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearline Capital LP increased its holdings in shares of Novanta by 71.1% during the 2nd quarter. Clearline Capital LP now owns 11,497 shares of the technology company's stock valued at $1,875,000 after acquiring an additional 4,778 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 59 shares during the last quarter. Raymond James & Associates raised its position in shares of Novanta by 3.5% in the second quarter. Raymond James & Associates now owns 50,640 shares of the technology company's stock valued at $8,260,000 after purchasing an additional 1,720 shares during the period. Blair William & Co. IL lifted its stake in shares of Novanta by 10.1% in the second quarter. Blair William & Co. IL now owns 448,604 shares of the technology company's stock worth $73,172,000 after buying an additional 41,296 shares during the last quarter. Finally, Argent Capital Management LLC bought a new stake in shares of Novanta during the 2nd quarter worth $294,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their target price on shares of Novanta from $175.00 to $169.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th.

Novanta Stock Performance

NASDAQ:NOVT traded up $2.95 during mid-day trading on Friday, hitting $166.98. 114,864 shares of the company's stock traded hands, compared to its average volume of 146,410. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 99.77 and a beta of 1.29. The firm has a 50 day moving average of $173.42 and a two-hundred day moving average of $170.96. 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 12 month low of $142.35 and a 12 month high of $187.12.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The company 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%. Novanta's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. On average, equities analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Insider Activity at Novanta

In other Novanta news, CFO Robert Buckley sold 1,111 shares of the business's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $180.45, for a total value of $200,479.95. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares of the company's stock, valued at approximately $21,729,608.55. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthijs Glastra sold 7,500 shares of the firm's 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 completion of the sale, the chief executive officer now directly owns 56,382 shares of the company's stock, valued at approximately $10,131,845.40. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,650 shares of company stock worth $2,956,686. Company insiders own 1.20% of the company's stock.

About Novanta

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.