Segall Bryant & Hamill LLC Has $17.17 Million Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Segall Bryant & Hamill LLC cut its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,938 shares of the technology company's stock after selling 3,915 shares during the period. Segall Bryant & Hamill LLC owned about 0.27% of Novanta worth $17,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Novanta by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company's stock worth $350,836,000 after acquiring an additional 79,718 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Novanta by 10.5% in the third 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. increased its position in shares of 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 acquiring an additional 45,937 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Novanta by 10.1% during the second 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 lifted its position in Novanta by 2.4% in the 2nd 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 owned by institutional investors.

Insider Buying and Selling

In other Novanta news, CFO Robert Buckley sold 3,660 shares of Novanta stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $174.01, for a total transaction of $636,876.60. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares of the company's stock, valued at $20,954,110.19. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the sale, the chief executive officer now directly owns 56,382 shares of the company's stock, valued at $10,131,845.40. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,650 shares of company stock worth $2,956,686. Insiders own 1.20% of the company's stock.

Novanta Stock Down 0.1 %

Shares of NOVT stock traded down $0.09 during trading on Thursday, reaching $164.85. The company's stock had a trading volume of 251,285 shares, compared to its average volume of 144,547. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 98.77 and a beta of 1.29. Novanta Inc. has a one year low of $142.35 and a one year high of $187.12. The business has a fifty day moving average price of $173.87 and a 200-day moving average price of $170.77. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61.

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

Wall Street Analysts Forecast Growth

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

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.