Allspring Global Investments Holdings LLC Purchases 69,858 Shares of Novanta Inc. (NASDAQ:NOVT)

Allspring Global Investments Holdings LLC grew its position in Novanta Inc. (NASDAQ:NOVT) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 734,728 shares of the technology company’s stock after purchasing an additional 69,858 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Novanta were worth $131,457,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of NOVT. Vanguard Group Inc. lifted its holdings in Novanta by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock valued at $674,860,000 after buying an additional 45,937 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Novanta in the 1st quarter worth about $780,000. SG Americas Securities LLC lifted its stake in shares of Novanta by 750.4% in the 1st quarter. SG Americas Securities LLC now owns 15,588 shares of the technology company’s stock valued at $2,724,000 after purchasing an additional 13,755 shares during the period. Clearline Capital LP boosted its position in shares of Novanta by 71.1% during the 2nd quarter. Clearline Capital LP now owns 11,497 shares of the technology company’s stock valued at $1,875,000 after purchasing an additional 4,778 shares in the last quarter. Finally, Raymond James & Associates grew its stake in Novanta by 3.5% during the second quarter. Raymond James & Associates now owns 50,640 shares of the technology company’s stock worth $8,260,000 after purchasing an additional 1,720 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at Novanta

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 transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $21,729,608.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 13,258 shares of company stock valued at $2,318,593. Company insiders own 1.20% of the company’s stock.

Novanta Stock Up 0.8 %

NASDAQ NOVT traded up $1.44 on Friday, hitting $178.53. 107,218 shares of the company were exchanged, compared to its average volume of 139,395. 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 company has a market cap of $6.41 billion, a PE ratio of 92.50 and a beta of 1.28. The stock has a fifty day moving average of $175.75 and a 200-day moving average of $168.76. Novanta Inc. has a 12 month low of $111.20 and a 12 month high of $187.12.

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