Vanguard Personalized Indexing Management LLC Acquires 506 Shares of Novanta Inc. (NASDAQ:NOVT)

Vanguard Personalized Indexing Management LLC raised its holdings in Novanta Inc. (NASDAQ:NOVT) by 10.8% during the second quarter, HoldingsChannel.com reports. The fund owned 5,197 shares of the technology company’s stock after purchasing an additional 506 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Novanta were worth $834,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Novanta by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after buying an additional 45,937 shares in the last quarter. Wells Fargo & Company MN raised its position in Novanta by 299.9% in the fourth quarter. Wells Fargo & Company MN now owns 61,912 shares of the technology company’s stock valued at $10,427,000 after purchasing an additional 46,430 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Novanta during the first quarter valued at about $780,000. Allianz Asset Management GmbH grew its holdings in shares of Novanta by 222.6% during the fourth quarter. Allianz Asset Management GmbH now owns 10,000 shares of the technology company’s stock worth $1,684,000 after purchasing an additional 6,900 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Novanta by 750.4% in the first quarter. SG Americas Securities LLC now owns 15,588 shares of the technology company’s stock valued at $2,724,000 after buying an additional 13,755 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Activity

In related news, CFO Robert Buckley sold 4,379 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $176.20, for a total value of $771,579.80. Following the transaction, the chief financial officer now owns 120,419 shares in the company, valued at $21,217,827.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Matthijs Glastra sold 1,086 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $160.84, for a total transaction of $174,672.24. Following the completion of the sale, the chief executive officer now owns 23,486 shares of the company’s stock, valued at approximately $3,777,488.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Buckley sold 4,379 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $176.20, for a total transaction of $771,579.80. Following the transaction, the chief financial officer now owns 120,419 shares in the company, valued at approximately $21,217,827.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,063 shares of company stock valued at $2,591,881. 1.20% of the stock is currently owned by insiders.

Novanta Stock Up 0.4 %

Shares of NASDAQ:NOVT opened at $177.15 on Wednesday. The business has a fifty day simple moving average of $175.70 and a 200 day simple moving average of $168.42. Novanta Inc. has a 12-month low of $111.20 and a 12-month high of $187.12. The firm has a market cap of $6.36 billion, a P/E ratio of 91.79 and a beta of 1.29. The company has a quick ratio of 1.73, a current ratio of 2.77 and a debt-to-equity ratio of 0.68.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The company had revenue of $235.86 million for the quarter, compared to analyst estimates of $233.63 million. During the same period in the previous year, the firm earned $0.80 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts predict that Novanta Inc. will post 3.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their target price 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 Company 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.