Pathstone Holdings LLC Has $4.62 Million Holdings in Novanta Inc. (NASDAQ:NOVT)

Pathstone Holdings LLC grew its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,827 shares of the technology company’s stock after acquiring an additional 295 shares during the quarter. Pathstone Holdings LLC owned 0.07% of Novanta worth $4,621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NOVT. GAMMA Investing LLC lifted its stake in shares of Novanta by 33.1% in the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after acquiring an additional 59 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in Novanta in the third quarter valued at about $49,000. nVerses Capital LLC bought a new position in Novanta in the third quarter valued at about $54,000. Signaturefd LLC boosted its stake in shares of 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 purchasing an additional 100 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Novanta by 47.6% during the second quarter. Van ECK Associates Corp now owns 750 shares of the technology company’s stock worth $122,000 after purchasing an additional 242 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Novanta

In other Novanta news, CFO Robert Buckley sold 1,111 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.45, for a total transaction of $200,479.95. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $21,729,608.55. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthijs Glastra sold 7,500 shares of the business’s 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 transaction, the chief executive officer now directly owns 56,382 shares in the company, valued at $10,131,845.40. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,650 shares of company stock valued at $2,956,686. 1.20% of the stock is currently owned by company insiders.

Novanta Stock Performance

Shares of Novanta stock opened at $169.79 on Friday. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 101.67 and a beta of 1.29. Novanta Inc. has a twelve month low of $142.35 and a twelve month high of $187.12. The company’s fifty day moving average is $173.77 and its 200 day moving average is $170.79. 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 released its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The firm had revenue of $244.40 million for the quarter, compared to analyst estimates of $242.33 million. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts forecast that Novanta Inc. will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their target price 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.