Barclays PLC Has $11.73 Million Position in Novanta Inc. (NASDAQ:NOVT)

Barclays PLC boosted its stake in Novanta Inc. (NASDAQ:NOVT - Free Report) by 215.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,564 shares of the technology company's stock after acquiring an additional 44,756 shares during the quarter. Barclays PLC owned about 0.18% of Novanta worth $11,731,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOVT. GAMMA Investing LLC boosted its holdings in Novanta by 33.1% in the third 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 stake in Novanta in the third quarter valued at $49,000. nVerses Capital LLC bought a new stake in Novanta in the third quarter valued at $54,000. Signaturefd LLC lifted its stake in Novanta by 38.3% in the second quarter. Signaturefd LLC now owns 361 shares of the technology company's stock valued at $59,000 after buying an additional 100 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Novanta by 47.6% in the second quarter. Van ECK Associates Corp now owns 750 shares of the technology company's stock valued at $122,000 after buying an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Insider Transactions at Novanta

In other news, 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 transaction of $200,479.95. Following the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $21,729,608.55. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of the business'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 sale, the chief executive officer now owns 56,382 shares in the company, valued at approximately $10,131,845.40. This represents a 11.74 % 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 three months. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price objective 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 Down 3.2 %

Shares of Novanta stock traded down $5.54 during trading on Tuesday, hitting $165.65. 169,142 shares of the stock traded hands, compared to its average volume of 147,424. The stock has a market cap of $5.95 billion, a P/E ratio of 102.51 and a beta of 1.26. 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 Inc. has a twelve month low of $146.86 and a twelve month high of $187.12. The company has a fifty day moving average price of $171.47 and a two-hundred day moving average price of $171.40.

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