Conestoga Capital Advisors LLC raised its holdings in Novanta Inc. (NASDAQ:NOVT - Free Report) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,350,651 shares of the technology company's stock after purchasing an additional 20,825 shares during the period. Novanta comprises approximately 3.3% of Conestoga Capital Advisors LLC's holdings, making the stock its 8th largest holding. Conestoga Capital Advisors LLC owned about 3.76% of Novanta worth $241,658,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in NOVT. Vanguard Group Inc. lifted its stake in Novanta by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company's stock worth $674,860,000 after purchasing an additional 45,937 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Novanta by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company's stock valued at $350,836,000 after buying an additional 79,718 shares during the period. William Blair Investment Management LLC grew its position in shares of Novanta by 0.4% during the 2nd quarter. William Blair Investment Management LLC now owns 960,152 shares of the technology company's stock valued at $156,610,000 after buying an additional 4,079 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Novanta by 10.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 734,728 shares of the technology company's stock worth $131,457,000 after acquiring an additional 69,858 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Novanta by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 680,104 shares of the technology company's stock worth $110,933,000 after acquiring an additional 19,701 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.
Novanta Stock Performance
Novanta stock traded up $3.98 during midday trading on Friday, reaching $174.22. 213,634 shares of the stock traded hands, compared to its average volume of 138,467. The firm has a fifty day moving average price of $174.91 and a two-hundred day moving average price of $169.14. Novanta Inc. has a fifty-two week low of $111.20 and a fifty-two week high of $187.12. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 100.71 and a beta of 1.28. The company has a current ratio of 2.77, a quick ratio of 1.73 and a debt-to-equity ratio of 0.68.
Novanta (NASDAQ:NOVT - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $233.63 million. The firm's revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. On average, equities research analysts forecast that Novanta Inc. will post 3.3 earnings per share for the current year.
Analyst Ratings Changes
Separately, Robert W. Baird increased their price target on Novanta from $170.00 to $175.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th.
Get Our Latest Research Report on Novanta
Insider Activity
In other news, CFO Robert Buckley sold 1,111 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 120,419 shares of the company's stock, valued at approximately $21,729,608.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 9,150 shares of company stock worth $1,608,936 over the last three months. Corporate insiders own 1.20% of the company's stock.
Novanta Profile
(
Free Report)
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.
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