Novanta Inc. (NASDAQ:NOVT) Stake Boosted by Advisor Group Holdings Inc.

Advisor Group Holdings Inc. boosted its position in shares of Novanta Inc. (NASDAQ:NOVT) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,194 shares of the technology company’s stock after purchasing an additional 515 shares during the period. Advisor Group Holdings Inc.’s holdings in Novanta were worth $981,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NOVT. Psagot Investment House Ltd. acquired a new stake in shares of Novanta during the first quarter worth approximately $25,000. O Shaughnessy Asset Management LLC acquired a new stake in Novanta during the first quarter valued at $135,000. Millennium Management LLC purchased a new position in Novanta in the first quarter valued at about $238,000. Y Intercept Hong Kong Ltd acquired a new position in Novanta in the 1st quarter worth about $247,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Novanta during the 1st quarter worth about $267,000. Institutional investors and hedge funds own 91.17% of the company’s stock.

Shares of Novanta stock opened at $150.06 on Wednesday. The company has a current ratio of 2.65, a quick ratio of 1.90 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $142.97 and a 200-day simple moving average of $136.72. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 122.00 and a beta of 1.00. Novanta Inc. has a 1-year low of $99.15 and a 1-year high of $156.21.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, August 10th. The technology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.51 by $0.11. Novanta had a net margin of 7.07% and a return on equity of 16.21%. The firm had revenue of $167.52 million for the quarter, compared to the consensus estimate of $164.32 million. During the same quarter last year, the firm posted $0.48 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts predict that Novanta Inc. will post 2.48 earnings per share for the current year.

NOVT has been the subject of a number of analyst reports. Robert W. Baird reiterated a “hold” rating on shares of Novanta in a research note on Friday, September 3rd. Zacks Investment Research upgraded shares of Novanta from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a report on Friday, August 13th.

In other Novanta news, CFO Robert Buckley sold 8,363 shares of the firm’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $147.36, for a total value of $1,232,371.68. Following the completion of the sale, the chief financial officer now owns 153,390 shares in the company, valued at approximately $22,603,550.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthijs Glastra sold 10,000 shares of Novanta stock in a transaction on Wednesday, August 18th. The stock was sold at an average price of $143.82, for a total transaction of $1,438,200.00. Following the sale, the chief executive officer now owns 156,053 shares in the company, valued at approximately $22,443,542.46. The disclosure for this sale can be found here. Insiders sold a total of 18,411 shares of company stock worth $2,677,703 in the last ninety days. Insiders own 3.60% of the company’s stock.

About Novanta

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.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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