Novanta Inc. (NASDAQ:NOVT) Stock Holdings Decreased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 11.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,779 shares of the technology company’s stock after selling 1,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Novanta were worth $1,392,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Nicolet Advisory Services LLC raised its position in shares of Novanta by 5.9% during the 3rd quarter. Nicolet Advisory Services LLC now owns 2,502 shares of the technology company’s stock valued at $430,000 after acquiring an additional 139 shares in the last quarter. Citigroup Inc. increased its stake in Novanta by 179.9% during the third quarter. Citigroup Inc. now owns 34,003 shares of the technology company’s stock valued at $6,084,000 after purchasing an additional 21,854 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Novanta by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,390 shares of the technology company’s stock worth $78,616,000 after purchasing an additional 4,271 shares during the period. Intech Investment Management LLC bought a new position in shares of Novanta in the 3rd quarter worth about $948,000. Finally, Moran Wealth Management LLC boosted its holdings in shares of Novanta by 40.1% in the 3rd quarter. Moran Wealth Management LLC now owns 2,963 shares of the technology company’s stock valued at $530,000 after buying an additional 848 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CFO Robert Buckley sold 1,111 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.45, for a total transaction of $200,479.95. Following the completion of 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 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.70, for a total value of $1,347,750.00. Following the completion of the transaction, the chief executive officer now directly owns 56,382 shares of the company’s stock, valued at $10,131,845.40. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,650 shares of company stock worth $2,956,686. Insiders own 1.20% of the company’s stock.

Novanta Trading Up 1.8 %

NASDAQ:NOVT opened at $166.98 on Friday. The firm has a market capitalization of $6.00 billion, a P/E ratio of 99.99 and a beta of 1.29. The business has a 50 day simple moving average of $173.26 and a 200 day simple moving average of $170.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. Novanta Inc. has a 12-month low of $142.35 and a 12-month high of $187.12.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company had revenue of $244.40 million during the quarter, compared to the consensus estimate of $242.33 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts predict that Novanta Inc. will post 3.03 EPS 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.