Dynamic Technology Lab Private Ltd Makes New $366,000 Investment in Novanta Inc. (NASDAQ:NOVT)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Novanta Inc. (NASDAQ:NOVT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,048 shares of the technology company’s stock, valued at approximately $366,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOVT. GAMMA Investing LLC boosted its stake in Novanta by 33.1% during the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after purchasing an additional 59 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in shares of Novanta in the third quarter valued at approximately $49,000. nVerses Capital LLC bought a new position in shares of Novanta in the third quarter valued at approximately $54,000. Signaturefd LLC lifted its holdings in shares of Novanta by 38.3% in 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 lifted its holdings in shares of Novanta by 47.6% in the second 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 in the last quarter. 98.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Novanta news, CFO Robert Buckley sold 1,111 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was 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 directly owns 120,419 shares of the company’s stock, valued at $21,729,608.55. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction on 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 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,650 shares of company stock worth $2,956,686. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their price objective on Novanta from $175.00 to $169.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th.

Novanta Stock Up 1.8 %

NOVT opened at $166.98 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The company’s 50-day moving average is $173.26 and its 200 day moving average is $171.04. Novanta Inc. has a fifty-two week low of $142.35 and a fifty-two week high of $187.12. The firm has a market capitalization of $6.00 billion, a P/E ratio of 99.99 and a beta of 1.29.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $244.40 million for the quarter, compared to analysts’ expectations of $242.33 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 EPS. Research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

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.