Tidal Investments LLC boosted its holdings in shares of Novanta Inc. (NASDAQ:NOVT – Free Report) by 61.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,469 shares of the technology company’s stock after buying an additional 2,471 shares during the period. Tidal Investments LLC’s holdings in Novanta were worth $1,157,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Conestoga Capital Advisors LLC lifted its holdings 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 acquiring an additional 20,825 shares during the period. State Street Corp lifted its stake in Novanta by 2.0% during the third quarter. State Street Corp now owns 1,298,419 shares of the technology company’s stock worth $232,313,000 after purchasing an additional 24,929 shares during the period. William Blair Investment Management LLC lifted 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 purchasing an additional 4,079 shares during the period. Geneva Capital Management LLC grew its stake in shares of 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 purchasing an additional 8,574 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of 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 purchasing an additional 69,858 shares during the period. Institutional investors own 98.35% of the company’s stock.
Insider Buying and Selling
In other Novanta news, CFO Robert Buckley sold 3,660 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $174.01, for a total value of $636,876.60. Following the transaction, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $20,954,110.19. The trade was a 2.95 % 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 this hyperlink. Also, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction 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 sale, the chief executive officer now owns 56,382 shares in the company, valued at $10,131,845.40. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,271 shares of company stock worth $2,185,107 in the last three months. Insiders own 1.20% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Analysis on NOVT
Novanta Stock Down 1.9 %
NOVT opened at $153.46 on Friday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 91.89 and a beta of 1.26. 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’s 50-day simple moving average is $170.58 and its 200-day simple moving average is $171.20. Novanta Inc. has a twelve month low of $146.86 and a twelve month high of $187.12.
Novanta (NASDAQ:NOVT – Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $244.40 million for the quarter, compared to analyst estimates of $242.33 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. Equities research analysts anticipate that Novanta Inc. will post 3.03 EPS for the current fiscal year.
Novanta Profile
Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.
Featured Articles
- Five stocks we like better than Novanta
- Breakout Stocks: What They Are and How to Identify Them
- Micron Stock Under $100: Seize the AI-Driven Upside
- Stock Sentiment Analysis: How it Works
- AI’s Next Big Winners: 3 Small-Cap Stocks to Watch in 2025
- What Investors Need to Know to Beat the Market
- SolarEdge Stock Climbs Back: Goldman Sachs Sees 40% Upside
Want to see what other hedge funds are holding NOVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novanta Inc. (NASDAQ:NOVT – Free Report).
Receive News & Ratings for Novanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novanta and related companies with MarketBeat.com's FREE daily email newsletter.