SG Americas Securities LLC Buys 5,100 Shares of Novanta Inc. (NASDAQ:NOVT)

SG Americas Securities LLC boosted its position in Novanta Inc. (NASDAQ:NOVT) by 632.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,907 shares of the technology company’s stock after acquiring an additional 5,100 shares during the quarter. SG Americas Securities LLC’s holdings in Novanta were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Novanta by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after purchasing an additional 45,937 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Novanta in the first quarter valued at approximately $780,000. Clearline Capital LP grew its stake in shares of Novanta by 71.1% in the second quarter. Clearline Capital LP now owns 11,497 shares of the technology company’s stock worth $1,875,000 after acquiring an additional 4,778 shares during the last quarter. Raymond James & Associates increased its position in Novanta by 3.5% during the second quarter. Raymond James & Associates now owns 50,640 shares of the technology company’s stock worth $8,260,000 after acquiring an additional 1,720 shares during the period. Finally, Wasatch Advisors LP raised its stake in Novanta by 4.0% during the 1st quarter. Wasatch Advisors LP now owns 958,774 shares of the technology company’s stock valued at $167,565,000 after purchasing an additional 37,238 shares during the last quarter. Institutional investors and hedge funds 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 Novanta 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 transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $21,729,608.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 15,088 shares of company stock valued at $2,648,323. 1.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Novanta Stock Performance

Novanta stock opened at $170.74 on Friday. Novanta Inc. has a 52-week low of $111.20 and a 52-week high of $187.12. The firm has a market capitalization of $6.13 billion, a P/E ratio of 88.47 and a beta of 1.28. The stock has a fifty day moving average price of $174.59 and a two-hundred day moving average price of $168.62. 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 (NASDAQ:NOVT) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. Novanta had a net margin of 6.91% and a return on equity of 15.77%. The company had revenue of $235.86 million during the quarter, compared to the consensus estimate of $233.63 million. During the same period in the previous year, the firm posted $0.80 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. As a group, analysts anticipate that Novanta Inc. will post 3.3 EPS for the current fiscal year.

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.