Baker Tilly Wealth Management LLC Takes Position in Novanta Inc. (NASDAQ:NOVT)

Baker Tilly Wealth Management LLC bought a new stake in Novanta Inc. (NASDAQ:NOVTFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,847 shares of the technology company’s stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOVT. Price T Rowe Associates Inc. MD lifted its stake in Novanta by 110.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 985,144 shares of the technology company’s stock worth $133,852,000 after purchasing an additional 517,824 shares during the period. State Street Corp increased its holdings in shares of Novanta by 56.2% during the third quarter. State Street Corp now owns 1,127,590 shares of the technology company’s stock worth $130,406,000 after buying an additional 405,731 shares in the last quarter. Norges Bank acquired a new stake in shares of Novanta during the fourth quarter worth approximately $46,718,000. Clearbridge Investments LLC acquired a new stake in shares of Novanta during the third quarter worth approximately $25,374,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Novanta by 34.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 412,424 shares of the technology company’s stock worth $59,158,000 after buying an additional 104,537 shares in the last quarter. Institutional investors own 96.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TheStreet raised shares of Novanta from a “c+” rating to a “b-” rating in a report on Thursday, December 28th.

Read Our Latest Research Report on NOVT

Insider Activity at Novanta

In related news, CEO Matthijs Glastra sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $164.38, for a total value of $821,900.00. Following the completion of the sale, the chief executive officer now owns 10,202 shares of the company’s stock, valued at $1,677,004.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Novanta news, CFO Robert Buckley sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $163.91, for a total value of $491,730.00. Following the transaction, the chief financial officer now directly owns 118,556 shares of the company’s stock, valued at $19,432,513.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthijs Glastra sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $164.38, for a total transaction of $821,900.00. Following the completion of the transaction, the chief executive officer now directly owns 10,202 shares in the company, valued at $1,677,004.76. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock valued at $2,299,790 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Novanta Stock Performance

Shares of Novanta stock opened at $173.07 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.98 and a quick ratio of 1.91. The firm has a market cap of $6.20 billion, a P/E ratio of 85.26 and a beta of 1.33. The firm has a 50 day simple moving average of $164.25 and a 200 day simple moving average of $153.91. Novanta Inc. has a fifty-two week low of $111.20 and a fifty-two week high of $187.60.

Novanta (NASDAQ:NOVTGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.63 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.63. The business had revenue of $211.60 million during the quarter, compared to analyst estimates of $210.90 million. Novanta had a net margin of 8.27% and a return on equity of 17.15%. Novanta’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. Sell-side analysts predict that Novanta Inc. will post 3.22 earnings per share for the current fiscal year.

Novanta Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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