1,233 Shares in Novanta Inc. (NASDAQ:NOVT) Purchased by Values First Advisors Inc.

Values First Advisors Inc. purchased a new stake in Novanta Inc. (NASDAQ:NOVT) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,233 shares of the technology company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Argent Capital Management LLC increased its holdings in shares of Novanta by 61.6% in the third quarter. Argent Capital Management LLC now owns 2,911 shares of the technology company’s stock valued at $521,000 after purchasing an additional 1,110 shares during the period. Precision Wealth Strategies LLC purchased a new position in Novanta in the 3rd quarter valued at $223,000. Allspring Global Investments Holdings LLC increased its stake in 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 during the period. Revolve Wealth Partners LLC purchased a new position in Novanta during the 3rd quarter worth $218,000. Finally, nVerses Capital LLC acquired a new stake in shares of Novanta in the 3rd quarter worth $54,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Novanta Stock Performance

NASDAQ NOVT opened at $172.70 on Friday. The company has a current ratio of 2.77, a quick ratio of 1.73 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $175.54 and its two-hundred day moving average is $168.88. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 89.48 and a beta of 1.28. Novanta Inc. has a 12-month low of $111.20 and a 12-month high of $187.12.

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

Insider Activity at Novanta

In other Novanta news, CFO Robert Buckley sold 1,111 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $180.45, for a total transaction of $200,479.95. Following the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $21,729,608.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 13,258 shares of company stock worth $2,318,593 over the last 90 days. Company insiders own 1.20% of the company’s stock.

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.