Novanta Inc. (NASDAQ:NOVT) Holdings Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 439,390 shares of the technology company’s stock after buying an additional 4,271 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Novanta were worth $78,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Conestoga Capital Advisors LLC raised its holdings in shares of Novanta by 1.6% during the third 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 in the last quarter. William Blair Investment Management LLC increased its position 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 worth $156,610,000 after purchasing an additional 4,079 shares during the last quarter. Geneva Capital Management LLC raised its stake in shares of Novanta by 1.1% during the 3rd quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company’s stock worth $139,566,000 after purchasing an additional 8,574 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Novanta by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 680,104 shares of the technology company’s stock valued at $110,933,000 after buying an additional 19,701 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Novanta Trading Down 1.6 %

Novanta stock opened at $164.03 on Thursday. Novanta Inc. has a one year low of $142.35 and a one year high of $187.12. The company’s fifty day moving average price is $173.62 and its two-hundred day moving average price is $171.01. 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 company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 98.22 and a beta of 1.29.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business had revenue of $244.40 million for the quarter, compared to analyst estimates of $242.33 million. During the same quarter in the prior year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction on 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 owns 56,382 shares in the company, valued at $10,131,845.40. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Buckley sold 3,660 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $174.01, for a total transaction of $636,876.60. Following the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $20,954,110.19. This represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,650 shares of company stock valued at $2,956,686 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

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.