Transatlantique Private Wealth LLC Cuts Stake in Novanta Inc. (NASDAQ:NOVT)

Transatlantique Private Wealth LLC decreased its position in Novanta Inc. (NASDAQ:NOVT) by 9.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,112 shares of the technology company’s stock after selling 528 shares during the period. Transatlantique Private Wealth LLC’s holdings in Novanta were worth $834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NOVT. Teacher Retirement System of Texas boosted its holdings in Novanta by 5.3% in the 4th quarter. Teacher Retirement System of Texas now owns 2,914 shares of the technology company’s stock valued at $491,000 after purchasing an additional 146 shares in the last quarter. Norges Bank purchased a new stake in shares of Novanta in the fourth quarter valued at approximately $62,186,000. PNC Financial Services Group Inc. grew its holdings in Novanta by 6.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,291 shares of the technology company’s stock worth $554,000 after acquiring an additional 204 shares during the period. 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 worth $10,427,000 after acquiring an additional 46,430 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Novanta by 16.3% in the fourth quarter. US Bancorp DE now owns 5,998 shares of the technology company’s stock valued at $1,010,000 after acquiring an additional 839 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Novanta Trading Up 0.1 %

Shares of Novanta stock opened at $174.53 on Friday. The company has a 50-day moving average of $175.82 and a two-hundred day moving average of $168.48. The stock has a market cap of $6.26 billion, a PE ratio of 90.43 and a beta of 1.29. The company has a current ratio of 2.77, a quick ratio of 1.73 and a debt-to-equity ratio of 0.68. Novanta Inc. has a 12-month low of $111.20 and a 12-month high of $187.12.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data 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. The firm had revenue of $235.86 million during the quarter, compared to the consensus estimate of $233.63 million. Novanta had a return on equity of 15.77% and a net margin of 6.91%. Novanta’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. On average, research analysts anticipate that Novanta Inc. will post 3.3 EPS for the current fiscal year.

Insider Buying and Selling

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

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.