Champlain Investment Partners LLC Sells 44,610 Shares of Novanta Inc. (NASDAQ:NOVT)

Champlain Investment Partners LLC lessened its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 462,102 shares of the technology company’s stock after selling 44,610 shares during the period. Champlain Investment Partners LLC owned approximately 1.29% of Novanta worth $82,679,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NOVT. GAMMA Investing LLC increased its holdings in shares of Novanta by 33.1% during the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after acquiring an additional 59 shares in the last quarter. Essex Investment Management Co. LLC grew its position in Novanta by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 23,379 shares of the technology company’s stock valued at $4,183,000 after purchasing an additional 80 shares during the last quarter. Bank of Montreal Can increased its stake in Novanta by 2.6% during the 2nd quarter. Bank of Montreal Can now owns 3,598 shares of the technology company’s stock valued at $599,000 after purchasing an additional 90 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Novanta by 1.3% in the second quarter. Victory Capital Management Inc. now owns 7,526 shares of the technology company’s stock worth $1,228,000 after buying an additional 99 shares during the last quarter. Finally, Signaturefd LLC lifted 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 worth $59,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Trading Up 3.1 %

Shares of NASDAQ:NOVT opened at $169.79 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. Novanta Inc. has a 1 year low of $142.35 and a 1 year high of $187.12. The company has a market cap of $6.10 billion, a P/E ratio of 101.67 and a beta of 1.29. The stock’s fifty day moving average price is $173.80 and its 200-day moving average price is $170.73.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The firm had revenue of $244.40 million for the quarter, compared to the consensus estimate of $242.33 million. During the same quarter last year, the firm posted $0.85 EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts expect that Novanta Inc. will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their price target on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

Insiders Place Their Bets

In related news, CEO Matthijs Glastra sold 7,500 shares of Novanta 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 completion of the sale, the chief executive officer now owns 56,382 shares of the company’s stock, valued at $10,131,845.40. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Buckley sold 1,111 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $180.45, for a total value of $200,479.95. Following the completion of 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 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,650 shares of company stock valued at $2,956,686. 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.