M&T Bank Corp Has $647,000 Stock Position in Novanta Inc. (NASDAQ:NOVT)

M&T Bank Corp lifted its position in Novanta Inc. (NASDAQ:NOVT) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,619 shares of the technology company’s stock after acquiring an additional 155 shares during the period. M&T Bank Corp’s holdings in Novanta were worth $647,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position in 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 purchasing an additional 59 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Novanta by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 23,379 shares of the technology company’s stock worth $4,183,000 after buying an additional 80 shares during the period. Bank of Montreal Can grew its holdings in shares of Novanta by 2.6% during the second quarter. Bank of Montreal Can now owns 3,598 shares of the technology company’s stock valued at $599,000 after buying an additional 90 shares in the last quarter. Victory Capital Management Inc. raised its position in Novanta by 1.3% during the second quarter. Victory Capital Management Inc. now owns 7,526 shares of the technology company’s stock valued at $1,228,000 after buying an additional 99 shares during the period. Finally, Signaturefd LLC raised its position in Novanta by 38.3% during the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock valued at $59,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered 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.

Insider Activity at Novanta

In related news, CFO Robert Buckley sold 1,111 shares of Novanta stock in a transaction on Friday, September 27th. The shares were sold at an average price of $180.45, for a total value of $200,479.95. Following the completion of the sale, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $21,729,608.55. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the transaction, the chief executive officer now directly owns 56,382 shares in the company, valued at $10,131,845.40. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,271 shares of company stock valued at $2,185,107. 1.20% of the stock is owned by corporate insiders.

Novanta Stock Up 3.0 %

NOVT stock opened at $171.19 on Tuesday. The company has a 50 day moving average of $171.55 and a two-hundred day moving average of $171.31. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 102.51 and a beta of 1.26. Novanta Inc. has a 12-month low of $146.86 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.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $242.33 million. During the same period last year, the company earned $0.85 earnings per share. Novanta’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current fiscal 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.