Novanta (NASDAQ:NOVT - Free Report) had its price target trimmed by Robert W. Baird from $175.00 to $169.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the technology company's stock.
Novanta Stock Up 10.5 %
Novanta stock traded up $17.27 during trading on Wednesday, reaching $181.94. The stock had a trading volume of 370,080 shares, compared to its average volume of 140,730. Novanta has a 52-week low of $111.20 and a 52-week high of $187.12. The business has a 50 day moving average price of $174.24 and a 200 day moving average price of $169.77. The stock has a market cap of $6.53 billion, a PE ratio of 105.17 and a beta of 1.29. The company has a quick ratio of 1.73, a current ratio of 2.77 and a debt-to-equity ratio of 0.68.
Novanta (NASDAQ:NOVT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). Novanta had a net margin of 6.91% and a return on equity of 15.77%. The company had revenue of $244.40 million during the quarter, compared to analysts' expectations of $242.33 million. During the same period last year, the firm earned $0.85 earnings per share. Novanta's revenue was up 10.3% on a year-over-year basis. On average, analysts predict that Novanta will post 3.3 EPS for the current year.
Insider Buying and Selling
In other Novanta news, CFO Robert Buckley sold 1,111 shares of Novanta stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $180.45, for a total value of $200,479.95. Following the completion of the sale, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 9,150 shares of company stock worth $1,608,936 in the last ninety days. Insiders own 1.20% of the company's stock.
Institutional Investors Weigh In On Novanta
Several institutional investors have recently bought and sold shares of NOVT. Price T Rowe Associates Inc. MD grew its position in shares of Novanta by 4.1% during 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 last quarter. Allspring Global Investments Holdings LLC increased its stake in Novanta by 10.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 734,728 shares of the technology company's stock valued at $131,457,000 after buying an additional 69,858 shares during the period. Vanguard Group Inc. raised its position in shares of Novanta by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company's stock worth $674,860,000 after buying an additional 45,937 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Novanta by 10.1% in the 2nd quarter. Blair William & Co. IL now owns 448,604 shares of the technology company's stock worth $73,172,000 after acquiring an additional 41,296 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of Novanta by 2.4% in the second quarter. Conestoga Capital Advisors LLC now owns 1,329,826 shares of the technology company's stock valued at $216,908,000 after acquiring an additional 31,290 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.
Novanta Company Profile
(
Get 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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