Novanta Inc. (NASDAQ:NOVT) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. decreased its position in shares of Novanta Inc. (NASDAQ:NOVT) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,065 shares of the technology company’s stock after selling 76 shares during the quarter. Raymond James Trust N.A.’s holdings in Novanta were worth $337,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. grew its position in shares of Novanta by 3.6% during the 2nd quarter. Baillie Gifford & Co. now owns 5,639 shares of the technology company’s stock valued at $920,000 after acquiring an additional 194 shares during the period. Argent Capital Management LLC acquired a new stake in Novanta in the second quarter valued at approximately $294,000. Nicholas Company Inc. increased its position in shares of Novanta by 41.7% in the second quarter. Nicholas Company Inc. now owns 19,915 shares of the technology company’s stock valued at $3,248,000 after buying an additional 5,865 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Novanta by 12.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the technology company’s stock worth $192,000 after buying an additional 132 shares during the period. Finally, Raymond James & Associates lifted its position in shares of Novanta by 3.5% during the 2nd quarter. Raymond James & Associates now owns 50,640 shares of the technology company’s stock valued at $8,260,000 after buying an additional 1,720 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Novanta Trading Down 0.3 %

Shares of Novanta stock opened at $182.01 on Wednesday. Novanta Inc. has a twelve month low of $111.20 and a twelve month high of $187.12. The firm’s 50-day moving average price is $171.97 and its 200 day moving average price is $167.24. The company has a current ratio of 2.83, a quick ratio of 1.77 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $6.53 billion, a PE ratio of 94.31 and a beta of 1.31.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, August 6th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. Novanta had a return on equity of 16.58% and a net margin of 7.76%. The business had revenue of $235.86 million for the quarter, compared to the consensus estimate of $233.63 million. During the same quarter last year, the business posted $0.80 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts predict that Novanta Inc. will post 3.26 EPS for the current fiscal year.

Insider Transactions at Novanta

In related news, CFO Robert Buckley sold 4,108 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $172.75, for a total transaction of $709,657.00. Following the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at $20,802,382.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Robert Buckley sold 4,108 shares of Novanta stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $172.75, for a total transaction of $709,657.00. Following the transaction, the chief financial officer now owns 120,419 shares in the company, valued at $20,802,382.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas N. Secor sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $158.60, for a total value of $158,600.00. Following the completion of the sale, the director now owns 928 shares of the company’s stock, valued at $147,180.80. The disclosure for this sale can be found here. Insiders sold 11,684 shares of company stock valued at $1,978,901 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their price objective on shares of Novanta from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th.

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.