Jane Street Group LLC Sells 26,868 Shares of Novanta Inc. (NASDAQ:NOVT)

Jane Street Group LLC reduced its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 42.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,999 shares of the technology company's stock after selling 26,868 shares during the period. Jane Street Group LLC owned approximately 0.10% of Novanta worth $6,441,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Novanta by 2.0% during the third quarter. State Street Corp now owns 1,298,419 shares of the technology company's stock worth $232,313,000 after acquiring an additional 24,929 shares during the period. Point72 DIFC Ltd bought a new position in Novanta during the 3rd quarter worth about $1,986,000. HighTower Advisors LLC acquired a new stake in shares of Novanta in the 3rd quarter valued at about $257,000. Fred Alger Management LLC lifted its holdings in shares of Novanta by 26.3% in the third quarter. Fred Alger Management LLC now owns 188,547 shares of the technology company's stock valued at $33,735,000 after purchasing an additional 39,308 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Novanta by 110.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company's stock valued at $17,938,000 after purchasing an additional 52,573 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Novanta Stock Down 0.7 %

NOVT traded down $1.10 during trading hours on Friday, hitting $166.20. 145,273 shares of the company's stock were exchanged, compared to its average volume of 147,008. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 99.52 and a beta of 1.26. Novanta Inc. has a 1-year low of $146.86 and a 1-year high of $187.12. The stock's 50-day moving average is $171.55 and its two-hundred day moving average is $171.22. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, hitting analysts' consensus estimates of $0.85. The company had revenue of $244.40 million during 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%. The company's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. Sell-side analysts predict that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Novanta

In other news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 56,382 shares of the company's stock, valued at $10,131,845.40. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Buckley sold 3,660 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $174.01, for a total transaction of $636,876.60. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $20,954,110.19. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,271 shares of company stock worth $2,185,107 over the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their target price on 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.