Novanta Inc. (NASDAQ:NOVT) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in Novanta Inc. (NASDAQ:NOVT) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,147 shares of the technology company’s stock after acquiring an additional 620 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Novanta were worth $4,320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Novanta by 33.1% in the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after acquiring an additional 59 shares during the last quarter. Essex Investment Management Co. LLC lifted its stake in shares of Novanta by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 23,379 shares of the technology company’s stock worth $4,183,000 after purchasing an additional 80 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Novanta by 2.6% during the second quarter. Bank of Montreal Can now owns 3,598 shares of the technology company’s stock worth $599,000 after purchasing an additional 90 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Novanta by 1.3% during the second quarter. Victory Capital Management Inc. now owns 7,526 shares of the technology company’s stock worth $1,228,000 after purchasing an additional 99 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Novanta by 38.3% during the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Stock Down 0.9 %

Shares of NASDAQ NOVT 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 cap of $6.04 billion, a price-to-earnings ratio of 100.71 and a beta of 1.29. Novanta Inc. has a 1 year low of $137.82 and a 1 year high of $187.12. The stock’s 50-day simple moving average is $174.02 and its 200-day simple moving average is $170.48.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $244.40 million during the quarter, compared to analyst estimates of $242.33 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. Novanta’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. As a group, equities analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CFO Robert Buckley sold 1,111 shares of the company’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 of the company’s stock, valued at approximately $21,729,608.55. This represents a 0.91 % decrease in their ownership of the stock. The transaction 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 that occurred on Monday, November 11th. The shares were sold at an average price of $179.70, for a total value of $1,347,750.00. Following 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. Over the last ninety days, insiders sold 16,650 shares of company stock valued at $2,956,686. 1.20% of the stock is currently owned by insiders.

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.