Loomis Sayles & Co. L P Acquires 6,019 Shares of Novanta Inc. (NASDAQ:NOVT)

Loomis Sayles & Co. L P increased its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 2.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 289,473 shares of the technology company’s stock after acquiring an additional 6,019 shares during the period. Loomis Sayles & Co. L P’s holdings in Novanta were worth $51,792,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Novanta by 33.1% during the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after buying an additional 59 shares during the period. GHP Investment Advisors Inc. acquired a new position in shares of Novanta during the 3rd quarter valued at $49,000. nVerses Capital LLC bought a new position in Novanta during the third quarter worth $54,000. Signaturefd LLC grew its holdings in Novanta by 38.3% in the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after purchasing an additional 100 shares during the period. Finally, Van ECK Associates Corp increased its stake in Novanta by 47.6% in the second quarter. Van ECK Associates Corp now owns 750 shares of the technology company’s stock valued at $122,000 after purchasing an additional 242 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Novanta Price Performance

Shares of NOVT opened at $173.43 on Tuesday. The business’s fifty day moving average is $173.81 and its 200 day moving average is $171.02. Novanta Inc. has a 12-month low of $142.35 and a 12-month 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 stock has a market cap of $6.23 billion, a P/E ratio of 103.85 and a beta of 1.29.

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

Insider Transactions at Novanta

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the 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 completion of the sale, the chief executive officer now owns 56,382 shares in the company, valued at approximately $10,131,845.40. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Buckley sold 1,111 shares of Novanta 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 transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $21,729,608.55. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,650 shares of company stock worth $2,956,686 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

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 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.