Novanta Inc. (NASDAQ:NOVT) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its holdings in Novanta Inc. (NASDAQ:NOVT) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,411 shares of the technology company’s stock after acquiring an additional 600 shares during the period. Handelsbanken Fonder AB’s holdings in Novanta were worth $1,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NOVT. Rise Advisors LLC bought a new stake in shares of Novanta in the 1st quarter worth approximately $32,000. Headlands Technologies LLC acquired a new position in shares of Novanta during the first quarter valued at $52,000. Signaturefd LLC grew its position in shares of Novanta by 38.3% during the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after acquiring an additional 100 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Novanta in the 1st quarter worth about $90,000. Finally, Van ECK Associates Corp lifted its position in Novanta by 47.6% in the 2nd 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 during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Novanta news, CFO Robert Buckley sold 1,830 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $180.18, for a total transaction of $329,729.40. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $21,697,095.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 15,088 shares of company stock valued at $2,648,323 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Novanta Stock Down 2.4 %

Shares of Novanta stock opened at $170.74 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $187.12. The business’s fifty day moving average price is $174.59 and its two-hundred day moving average price is $168.62. The company has a market capitalization of $6.13 billion, a P/E ratio of 88.47 and a beta of 1.28.

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

Analyst Upgrades and Downgrades

Separately, Robert W. Baird upped 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.

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.