Novanta Inc. (NASDAQ:NOVT) Shares Acquired by Barclays PLC

Barclays PLC increased its holdings in Novanta Inc. (NASDAQ:NOVT) by 215.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,564 shares of the technology company’s stock after purchasing an additional 44,756 shares during the quarter. Barclays PLC owned 0.18% of Novanta worth $11,731,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Novanta by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 734,728 shares of the technology company’s stock valued at $131,457,000 after acquiring an additional 69,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Novanta by 110.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company’s stock valued at $17,938,000 after purchasing an additional 52,573 shares in the last quarter. DF Dent & Co. Inc. increased its stake in shares of Novanta by 26.7% during the third quarter. DF Dent & Co. Inc. now owns 205,713 shares of the technology company’s stock worth $36,806,000 after purchasing an additional 43,400 shares in the last quarter. Blair William & Co. IL increased its stake in shares of Novanta by 10.1% during the second quarter. Blair William & Co. IL now owns 448,604 shares of the technology company’s stock worth $73,172,000 after purchasing an additional 41,296 shares in the last quarter. Finally, Fred Alger Management LLC raised its position in shares of Novanta by 26.3% during the 3rd quarter. Fred Alger Management LLC now owns 188,547 shares of the technology company’s stock worth $33,735,000 after purchasing an additional 39,308 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction dated 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Buckley sold 3,660 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $174.01, for a total transaction of $636,876.60. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $20,954,110.19. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,271 shares of company stock worth $2,185,107 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

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

Novanta Trading Up 3.0 %

Shares of NOVT stock opened at $171.19 on Tuesday. Novanta Inc. has a fifty-two week low of $146.86 and a fifty-two week high of $187.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. The stock’s fifty day moving average is $171.55 and its two-hundred day moving average is $171.31. The firm has a market capitalization of $6.15 billion, a P/E ratio of 102.51 and a beta of 1.26.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, hitting the consensus estimate 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. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. Research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Novanta Company 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.