Loomis Sayles & Co. L P Grows Stock Position in Novanta Inc. (NASDAQ:NOVT)

Loomis Sayles & Co. L P raised its holdings in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 289,473 shares of the technology company's stock after buying an additional 6,019 shares during the period. Loomis Sayles & Co. L P owned about 0.81% of Novanta worth $51,792,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NOVT. GAMMA Investing LLC raised its holdings in Novanta by 33.1% in the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company's stock worth $42,000 after purchasing an additional 59 shares during the period. GHP Investment Advisors Inc. bought a new position in shares of Novanta in the third quarter worth about $49,000. nVerses Capital LLC purchased a new position in shares of Novanta during the 3rd quarter valued at about $54,000. Signaturefd LLC grew its stake in shares of 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 acquiring an additional 100 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Novanta by 47.6% in the 2nd quarter. Van ECK Associates Corp now owns 750 shares of the technology company's stock worth $122,000 after acquiring an additional 242 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Novanta Price Performance

Shares of Novanta stock traded down $6.81 during trading hours on Tuesday, hitting $166.62. The company's stock had a trading volume of 179,290 shares, compared to its average volume of 146,452. The business has a 50 day moving average price of $173.81 and a two-hundred day moving average price of $171.02. The company has a market cap of $5.98 billion, a PE ratio of 103.85 and a beta of 1.29. Novanta Inc. has a 12-month low of $142.35 and a 12-month high of $187.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $244.40 million for the quarter, compared to analysts' expectations of $242.33 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. Analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Novanta

In other Novanta news, CFO Robert Buckley sold 1,111 shares of Novanta stock in a transaction on Friday, September 27th. The shares were sold at an average price of $180.45, for a total transaction 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 $21,729,608.55. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthijs Glastra sold 7,500 shares of the company'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 value of $1,347,750.00. Following the transaction, the chief executive officer now directly owns 56,382 shares in the company, 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. Insiders sold 16,650 shares of company stock valued at $2,956,686 in the last 90 days. 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.