Novanta Inc. (NASDAQ:NOVT) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its position in Novanta Inc. (NASDAQ:NOVT) by 33.1% in the third quarter, Holdings Channel reports. The firm owned 237 shares of the technology company’s stock after purchasing an additional 59 shares during the quarter. GAMMA Investing LLC’s holdings in Novanta were worth $42,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Novanta by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company’s stock worth $350,836,000 after acquiring an additional 79,718 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Novanta by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,815,479 shares of the technology company’s stock worth $642,565,000 after buying an additional 49,471 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Novanta by 10.1% in the 2nd quarter. Blair William & Co. IL now owns 448,604 shares of the technology company’s stock valued at $73,172,000 after buying an additional 41,296 shares during the period. Norden Group LLC boosted its holdings in shares of Novanta by 2,287.5% in the 1st quarter. Norden Group LLC now owns 42,211 shares of the technology company’s stock valued at $7,377,000 after buying an additional 40,443 shares during the period. Finally, Wasatch Advisors LP raised its stake in Novanta by 4.0% during the first quarter. Wasatch Advisors LP now owns 958,774 shares of the technology company’s stock worth $167,565,000 after acquiring an additional 37,238 shares during the period. 98.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Novanta news, CFO Robert Buckley sold 4,379 shares of Novanta stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $176.20, for a total transaction of $771,579.80. Following the sale, the chief financial officer now owns 120,419 shares of the company’s stock, valued at $21,217,827.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 13,258 shares of company stock valued at $2,318,593 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Novanta Stock Down 0.4 %

Novanta stock opened at $177.09 on Friday. The firm has a market capitalization of $6.36 billion, a P/E ratio of 91.76 and a beta of 1.28. The company has a 50-day simple moving average of $175.61 and a 200-day simple moving average of $168.71. Novanta Inc. has a one year low of $111.20 and a one year high of $187.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. The firm had revenue of $235.86 million during 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%. Novanta’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, equities analysts expect that Novanta Inc. will post 3.3 earnings per share for the current 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.