GHP Investment Advisors Inc. Buys Shares of 273 Novanta Inc. (NASDAQ:NOVT)

GHP Investment Advisors Inc. purchased a new stake in Novanta Inc. (NASDAQ:NOVT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 273 shares of the technology company’s stock, valued at approximately $49,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Novanta by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock valued at $674,860,000 after purchasing an additional 45,937 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Novanta by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company’s stock worth $350,836,000 after purchasing an additional 79,718 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Novanta by 2.4% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,329,826 shares of the technology company’s stock valued at $216,908,000 after buying an additional 31,290 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Novanta by 0.4% in the 2nd quarter. William Blair Investment Management LLC now owns 960,152 shares of the technology company’s stock valued at $156,610,000 after buying an additional 4,079 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Novanta by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 734,728 shares of the technology company’s stock valued at $131,457,000 after buying an additional 69,858 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Robert Buckley sold 4,379 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $176.20, for a total transaction of $771,579.80. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $21,217,827.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 13,258 shares of company stock worth $2,318,593 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

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

Novanta Price Performance

NASDAQ NOVT opened at $176.25 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 91.32 and a beta of 1.28. The business has a 50 day simple moving average of $175.39 and a 200 day simple moving average of $168.94. Novanta Inc. has a 52-week low of $111.20 and a 52-week high of $187.12.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $235.86 million for the quarter, compared to analyst estimates of $233.63 million. Novanta had a net margin of 6.91% and a return on equity of 15.77%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $0.80 earnings per share. Analysts anticipate that Novanta Inc. will post 3.3 earnings per share for the current fiscal year.

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.