Blair William & Co. IL Purchases 41,296 Shares of Novanta Inc. (NASDAQ:NOVT)

Blair William & Co. IL lifted its position in shares of Novanta Inc. (NASDAQ:NOVT) by 10.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 448,604 shares of the technology company’s stock after purchasing an additional 41,296 shares during the period. Blair William & Co. IL’s holdings in Novanta were worth $73,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its holdings in Novanta by 10.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,197 shares of the technology company’s stock worth $834,000 after acquiring an additional 506 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Novanta in the second quarter worth $3,382,000. Dimensional Fund Advisors LP increased its holdings in Novanta by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 680,104 shares of the technology company’s stock valued at $110,933,000 after purchasing an additional 19,701 shares during the period. Envestnet Asset Management Inc. raised its position in Novanta by 3.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 62,437 shares of the technology company’s stock worth $10,184,000 after purchasing an additional 2,155 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Novanta by 32.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 23,527 shares of the technology company’s stock worth $3,837,000 after buying an additional 5,714 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Novanta Stock Down 0.4 %

Shares of NASDAQ:NOVT opened at $171.03 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77. Novanta Inc. has a 52-week low of $111.20 and a 52-week high of $187.12. The business’s 50 day simple moving average is $175.39 and its two-hundred day simple moving average is $168.45. The firm has a market cap of $6.14 billion, a P/E ratio of 88.62 and a beta of 1.29.

Novanta (NASDAQ:NOVT) last issued its earnings results 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. Novanta had a return on equity of 15.77% and a net margin of 6.91%. The company had revenue of $235.86 million for the quarter, compared to analysts’ expectations of $233.63 million. During the same period last year, the business earned $0.80 EPS. Novanta’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, research analysts forecast that Novanta Inc. will post 3.3 EPS for the current fiscal year.

Insider Buying and Selling at Novanta

In other news, CFO Robert Buckley sold 1,830 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $161.09, for a total transaction of $294,794.70. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $19,398,296.71. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Novanta news, CEO Matthijs Glastra sold 1,086 shares of Novanta stock in a transaction on Monday, July 1st. The shares were sold at an average price of $160.84, for a total transaction of $174,672.24. Following the transaction, the chief executive officer now directly owns 23,486 shares of the company’s stock, valued at approximately $3,777,488.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Buckley sold 1,830 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $161.09, for a total transaction of $294,794.70. Following the transaction, the chief financial officer now owns 120,419 shares in the company, valued at $19,398,296.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,063 shares of company stock valued at $2,591,881. Corporate insiders own 1.20% of the company’s stock.

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.