Nicolet Advisory Services LLC Acquires 139 Shares of Novanta Inc. (NASDAQ:NOVT)

Nicolet Advisory Services LLC boosted its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 5.9% in the third quarter, Holdings Channel reports. The firm owned 2,502 shares of the technology company’s stock after purchasing an additional 139 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Novanta were worth $430,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its stake in Novanta by 179.9% in the 3rd quarter. Citigroup Inc. now owns 34,003 shares of the technology company’s stock valued at $6,084,000 after buying an additional 21,854 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Novanta by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,390 shares of the technology company’s stock valued at $78,616,000 after purchasing an additional 4,271 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Novanta in the 3rd quarter valued at $948,000. Moran Wealth Management LLC increased its position in shares of Novanta by 40.1% during the 3rd quarter. Moran Wealth Management LLC now owns 2,963 shares of the technology company’s stock worth $530,000 after purchasing an additional 848 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its holdings in Novanta by 1.2% during the 3rd quarter. Pathstone Holdings LLC now owns 25,827 shares of the technology company’s stock valued at $4,621,000 after purchasing an additional 295 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Stock Performance

Shares of Novanta stock opened at $169.79 on Friday. 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 firm has a 50 day simple moving average of $173.77 and a 200 day simple moving average of $170.79. Novanta Inc. has a fifty-two week low of $142.35 and a fifty-two week high of $187.12. The firm has a market cap of $6.10 billion, a P/E ratio of 101.67 and a beta of 1.29.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. Sell-side analysts predict that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at Novanta

In related news, CFO Robert Buckley sold 1,111 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.45, for a total transaction of $200,479.95. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $21,729,608.55. This represents a 0.91 % 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, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 56,382 shares of the company’s stock, valued at approximately $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 quarter, insiders sold 16,650 shares of company stock worth $2,956,686. 1.20% of the stock is owned by insiders.

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.