Segall Bryant & Hamill LLC Reduces Holdings in Novanta Inc. (NASDAQ:NOVT)

Segall Bryant & Hamill LLC decreased its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,938 shares of the technology company’s stock after selling 3,915 shares during the period. Segall Bryant & Hamill LLC’s holdings in Novanta were worth $17,165,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NOVT. Vanguard Group Inc. increased its holdings in shares of Novanta by 1.2% in the 1st 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 increased its holdings in 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 valued at $350,836,000 after buying an additional 79,718 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of Novanta by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,350,651 shares of the technology company’s stock worth $241,658,000 after buying an additional 20,825 shares during the period. William Blair Investment Management LLC grew its stake in Novanta by 0.4% during the second quarter. William Blair Investment Management LLC now owns 960,152 shares of the technology company’s stock worth $156,610,000 after buying an additional 4,079 shares during the last quarter. Finally, Geneva Capital Management LLC increased its position in Novanta by 1.1% in the 3rd quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company’s stock valued at $139,566,000 after acquiring an additional 8,574 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Novanta

In other news, CFO Robert Buckley sold 1,111 shares of Novanta stock in a transaction on Friday, September 27th. The stock was sold at an average price of $180.45, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the completion of the transaction, the chief executive officer now directly owns 56,382 shares in the company, valued at approximately $10,131,845.40. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,650 shares of company stock worth $2,956,686 over the last three months. 1.20% of the stock is owned by company insiders.

Novanta Stock Down 0.5 %

NOVT stock opened at $164.94 on Thursday. Novanta Inc. has a fifty-two week low of $141.95 and a fifty-two week high of $187.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The business’s fifty day moving average price is $173.91 and its two-hundred day moving average price is $170.82. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 98.77 and a beta of 1.29.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 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 business had revenue of $244.40 million during the quarter, compared to the consensus estimate of $242.33 million. During the same quarter in the prior year, the firm earned $0.85 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current 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.