Baillie Gifford & Co. Sells 78 Shares of Novanta Inc. (NASDAQ:NOVT)

Baillie Gifford & Co. trimmed its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,561 shares of the technology company’s stock after selling 78 shares during the period. Baillie Gifford & Co.’s holdings in Novanta were worth $995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Novanta by 33.1% in the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after purchasing an additional 59 shares during the period. Essex Investment Management Co. LLC lifted its holdings in Novanta by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 23,379 shares of the technology company’s stock worth $4,183,000 after buying an additional 80 shares during the period. Bank of Montreal Can boosted its position 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 acquiring an additional 90 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Novanta by 1.3% in the 2nd quarter. Victory Capital Management Inc. now owns 7,526 shares of the technology company’s stock valued at $1,228,000 after acquiring an additional 99 shares during the period. Finally, Signaturefd LLC raised its position in shares of Novanta by 38.3% in the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after acquiring an additional 100 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Novanta Trading Down 2.6 %

NASDAQ NOVT opened at $170.17 on Thursday. Novanta Inc. has a 52 week low of $126.65 and a 52 week high of $187.12. The company has a 50 day moving average price of $174.15 and a 200 day moving average price of $170.49. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. The firm has a market cap of $6.11 billion, a PE ratio of 101.90 and a beta of 1.29.

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

Insider Buying and Selling

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the transaction, the chief executive officer now owns 56,382 shares in the company, valued at approximately $10,131,845.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.70, for a total transaction 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 approximately $10,131,845.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert Buckley sold 1,111 shares of the business’s 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 sale, the chief financial officer now owns 120,419 shares in the company, valued at approximately $21,729,608.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,650 shares of company stock worth $2,956,686 in the last three months. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their price objective on Novanta from $175.00 to $169.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th.

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.