Crossmark Global Holdings Inc. Reduces Stake in Novanta Inc. (NASDAQ:NOVT)

Crossmark Global Holdings Inc. cut its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 19.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,753 shares of the technology company’s stock after selling 889 shares during the period. Crossmark Global Holdings Inc.’s holdings in Novanta were worth $672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOVT. GAMMA Investing LLC lifted its holdings in Novanta by 33.1% in the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after buying an additional 59 shares during the period. GHP Investment Advisors Inc. bought a new stake in shares of Novanta during the third quarter valued at approximately $49,000. Headlands Technologies LLC purchased a new stake in Novanta in the first quarter worth $52,000. nVerses Capital LLC bought a new position in Novanta in the third quarter worth $54,000. Finally, Signaturefd LLC lifted its position in Novanta by 38.3% during the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock valued at $59,000 after buying an additional 100 shares during the period. Institutional investors own 98.35% of the company’s stock.

Insider Transactions at Novanta

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the transaction, the chief executive officer now owns 56,382 shares in the company, valued at approximately $10,131,845.40. This represents a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Buckley sold 3,660 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $174.01, for a total transaction of $636,876.60. Following the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $20,954,110.19. The trade was a 2.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,650 shares of company stock worth $2,956,686. Corporate insiders own 1.20% of the company’s stock.

Novanta Price Performance

NOVT stock opened at $168.19 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 100.71 and a beta of 1.29. The firm has a 50 day moving average price of $174.02 and a 200-day moving average price of $170.48. Novanta Inc. has a 52-week low of $137.82 and a 52-week high of $187.12.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates 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 return on equity of 15.20% and a net margin of 6.52%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. Equities research analysts forecast that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their price target on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th.

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.