Wellington Management Group LLP Sells 9,532 Shares of Novanta Inc. (NASDAQ:NOVT)

Wellington Management Group LLP decreased its position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 1.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 493,484 shares of the technology company's stock after selling 9,532 shares during the period. Wellington Management Group LLP owned about 1.37% of Novanta worth $88,294,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Novanta by 33.1% during the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company's stock worth $42,000 after acquiring an additional 59 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Novanta in the 3rd quarter worth approximately $49,000. nVerses Capital LLC purchased a new stake in shares of Novanta in the 3rd quarter worth approximately $54,000. Signaturefd LLC grew its stake in shares of Novanta by 38.3% in the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company's stock worth $59,000 after buying an additional 100 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Novanta by 47.6% during 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. Institutional investors own 98.35% of the company's stock.

Insider Buying and Selling at Novanta

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 56,382 shares of the company's stock, valued at approximately $10,131,845.40. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Buckley sold 1,111 shares of the company's stock in a transaction dated Friday, September 27th. The shares were 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 of the company's stock, valued at $21,729,608.55. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,271 shares of company stock worth $2,185,107. Company insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Separately, Robert W. Baird cut their target price on 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 Up 0.7 %

Shares of NASDAQ NOVT traded up $1.10 during midday trading on Wednesday, hitting $166.87. The stock had a trading volume of 156,076 shares, compared to its average volume of 147,192. The business's 50 day moving average is $171.99 and its 200-day moving average is $171.21. Novanta Inc. has a 52 week low of $146.86 and a 52 week high of $187.12. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. The company has a market cap of $5.99 billion, a P/E ratio of 99.26 and a beta of 1.26.

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

About Novanta

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.