Blair William & Co. IL Has $73.17 Million Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Blair William & Co. IL lifted its position in shares of Novanta Inc. (NASDAQ:NOVT) by 10.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,604 shares of the technology company’s stock after purchasing an additional 41,296 shares during the quarter. Blair William & Co. IL owned 1.25% of Novanta worth $73,172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in 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 acquiring an additional 99 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Novanta by 1.7% in the 1st quarter. New York State Teachers Retirement System now owns 5,876 shares of the technology company’s stock valued at $1,027,000 after buying an additional 100 shares during the last quarter. Signaturefd LLC grew its stake in shares of Novanta by 38.3% in the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock valued at $59,000 after buying an additional 100 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Novanta by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 44,969 shares of the technology company’s stock valued at $7,859,000 after acquiring an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Novanta by 12.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the technology company’s stock worth $192,000 after purchasing an additional 132 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

Novanta Stock Down 0.4 %

NOVT stock opened at $171.03 on Wednesday. Novanta Inc. has a fifty-two week low of $111.20 and a fifty-two week high of $187.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.73. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 88.62 and a beta of 1.29. The business’s fifty day moving average price is $175.39 and its two-hundred day moving average price is $168.45.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $235.86 million for the quarter, compared to analyst estimates of $233.63 million. Novanta had a net margin of 6.91% and a return on equity of 15.77%. Novanta’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share. On average, equities analysts anticipate that Novanta Inc. will post 3.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Matthijs Glastra sold 1,086 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $160.84, for a total value of $174,672.24. Following the transaction, the chief executive officer now owns 23,486 shares in the company, valued at $3,777,488.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Robert Buckley sold 4,379 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $176.20, for a total transaction of $771,579.80. Following the completion of the transaction, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $21,217,827.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthijs Glastra sold 1,086 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $160.84, for a total value of $174,672.24. Following the completion of the sale, the chief executive officer now directly owns 23,486 shares in the company, valued at $3,777,488.24. The disclosure for this sale can be found here. Insiders have sold 15,063 shares of company stock valued at $2,591,881 over the last 90 days. 1.20% of the stock is owned by corporate insiders.

About Novanta

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.