Moody Aldrich Partners LLC Has $3.23 Million Stake in Novanta Inc. (NASDAQ:NOVT)

Moody Aldrich Partners LLC reduced its position in Novanta Inc. (NASDAQ:NOVT) by 2.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 21,145 shares of the technology company’s stock after selling 581 shares during the period. Moody Aldrich Partners LLC’s holdings in Novanta were worth $3,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOVT. American Century Companies Inc. increased its stake in shares of Novanta by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 3,009 shares of the technology company’s stock valued at $491,000 after buying an additional 367 shares during the period. Hsbc Holdings PLC increased its stake in shares of Novanta by 20.7% in the 2nd quarter. Hsbc Holdings PLC now owns 2,651 shares of the technology company’s stock valued at $434,000 after buying an additional 455 shares during the period. Bank of Montreal Can increased its stake in shares of Novanta by 2.6% in the 2nd quarter. Bank of Montreal Can now owns 3,598 shares of the technology company’s stock valued at $599,000 after buying an additional 90 shares during the period. Creative Planning increased its stake in shares of Novanta by 2.7% in the 2nd quarter. Creative Planning now owns 7,172 shares of the technology company’s stock valued at $1,170,000 after buying an additional 186 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Novanta by 632.0% in the 3rd quarter. SG Americas Securities LLC now owns 5,907 shares of the technology company’s stock valued at $1,057,000 after buying an additional 5,100 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 56,382 shares in the company, 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 SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Novanta Stock Performance

NOVT stock opened at $148.14 on Wednesday. The business’s 50-day moving average price is $157.62 and its two-hundred day moving average price is $169.02. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The firm has a market cap of $5.32 billion, a PE ratio of 88.71 and a beta of 1.28. Novanta Inc. has a 1-year low of $143.18 and a 1-year high of $187.12.

Novanta (NASDAQ:NOVT) last posted its 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. The firm had revenue of $244.40 million for the quarter, compared to analyst estimates of $242.33 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, research analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current year.

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.