Exchange Traded Concepts LLC Purchases 4,648 Shares of Novanta Inc. (NASDAQ:NOVT)

Exchange Traded Concepts LLC raised its position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,566 shares of the technology company's stock after buying an additional 4,648 shares during the quarter. Exchange Traded Concepts LLC owned about 0.34% of Novanta worth $18,419,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Conestoga Capital Advisors LLC grew its holdings in shares of Novanta by 1.6% in the third quarter. Conestoga Capital Advisors LLC now owns 1,350,651 shares of the technology company's stock valued at $241,658,000 after purchasing an additional 20,825 shares in the last quarter. State Street Corp lifted its position in Novanta by 2.0% during the third quarter. State Street Corp now owns 1,298,419 shares of the technology company's stock valued at $232,313,000 after purchasing an additional 24,929 shares during the last quarter. Geneva Capital Management LLC grew its stake in shares of Novanta by 1.1% in the 3rd quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company's stock worth $139,566,000 after buying an additional 8,574 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Novanta by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 734,728 shares of the technology company's stock worth $131,457,000 after buying an additional 69,858 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Novanta by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,390 shares of the technology company's stock valued at $78,616,000 after buying an additional 4,271 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Novanta Trading Down 0.5 %

Shares of Novanta stock traded down $0.82 on Friday, reaching $148.85. The company had a trading volume of 193,234 shares, compared to its average volume of 211,936. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 89.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The firm's 50-day moving average price is $159.16 and its two-hundred day moving average price is $169.42. Novanta Inc. has a 1 year low of $143.18 and a 1 year 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 EPS for the quarter, hitting the consensus estimate of $0.85. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company 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 firm earned $0.85 earnings per share. Novanta's quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts predict that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Novanta

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction on Monday, November 11th. The stock was 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 $10,131,845.40. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

About Novanta

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.