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

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

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Novanta by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company's stock valued at $674,860,000 after purchasing an additional 45,937 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 worth $350,836,000 after acquiring an additional 79,718 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of Novanta by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,350,651 shares of the technology company's stock worth $241,658,000 after acquiring an additional 20,825 shares during the last quarter. William Blair Investment Management LLC raised its stake in Novanta by 0.4% in 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 acquiring an additional 4,079 shares during the period. Finally, Geneva Capital Management LLC lifted its holdings in Novanta by 1.1% during the 3rd quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company's stock valued at $139,566,000 after purchasing an additional 8,574 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Insider Activity

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 56,382 shares of the company's stock, valued at $10,131,845.40. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Buckley sold 4,379 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $176.20, for a total transaction of $771,579.80. Following the sale, the chief financial officer now directly owns 120,419 shares of the company's stock, valued at approximately $21,217,827.80. This trade represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,650 shares of company stock worth $2,956,686. 1.20% of the stock is currently owned by company insiders.

Novanta Price Performance

Novanta stock opened at $164.94 on Thursday. The stock's 50 day moving average is $173.87 and its 200-day moving average is $170.77. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 98.77 and a beta of 1.29. Novanta Inc. has a 12 month low of $141.95 and a 12 month high of $187.12. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

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

Wall Street Analysts Forecast Growth

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

Novanta Company 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.