Envestnet Asset Management Inc. Grows Position in Novanta Inc. $NOVT

Envestnet Asset Management Inc. boosted its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 15.4% 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 81,691 shares of the technology company’s stock after acquiring an additional 10,896 shares during the period. Envestnet Asset Management Inc. owned about 0.23% of Novanta worth $8,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Wasatch Advisors LP increased its holdings in Novanta by 10.6% during the second quarter. Wasatch Advisors LP now owns 1,100,029 shares of the technology company’s stock valued at $141,827,000 after buying an additional 104,985 shares during the period. Geneva Capital Management LLC boosted its position in Novanta by 5.9% during the 2nd quarter. Geneva Capital Management LLC now owns 988,969 shares of the technology company’s stock valued at $127,508,000 after acquiring an additional 54,934 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Novanta by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 919,666 shares of the technology company’s stock valued at $118,585,000 after acquiring an additional 12,789 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Novanta by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 722,437 shares of the technology company’s stock valued at $93,144,000 after acquiring an additional 8,295 shares during the period. Finally, Champlain Investment Partners LLC raised its position in shares of Novanta by 16.5% in the 2nd quarter. Champlain Investment Partners LLC now owns 694,691 shares of the technology company’s stock worth $89,567,000 after acquiring an additional 98,501 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

NOVT has been the topic of a number of recent research reports. Weiss Ratings raised Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 20th. Zacks Research raised shares of Novanta from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Novanta presently has a consensus rating of “Hold” and an average target price of $133.00.

Insider Transactions at Novanta

In other Novanta news, CFO Robert Buckley sold 1,423 shares of Novanta stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $140.14, for a total value of $199,419.22. Following the completion of the transaction, the chief financial officer owned 91,034 shares of the company’s stock, valued at approximately $12,757,504.76. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $145.04, for a total transaction of $1,087,800.00. Following the completion of the transaction, the chief executive officer owned 57,367 shares of the company’s stock, valued at approximately $8,320,509.68. This trade represents a 11.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 22,923 shares of company stock worth $3,182,264 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Novanta Trading Down 0.5%

Novanta stock opened at $144.93 on Friday. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $153.20. The stock has a 50-day moving average price of $131.15 and a 200 day moving average price of $119.46. The company has a quick ratio of 1.54, a current ratio of 2.51 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 98.59 and a beta of 1.62.

About Novanta

Novanta, Inc (NASDAQ: NOVT) is a global technology company that designs and manufactures precision components, subsystems and software used in advanced photonics and motion control applications. The company serves customers in the medical device and advanced industrial markets, supplying critical technologies for diagnostics and therapeutic systems, semiconductor and electronics manufacturing, and scientific instrumentation. Novanta’s product portfolio includes laser control modules, optics, beam delivery systems, high-precision motors, actuators, stages, and fluidics solutions designed to meet stringent accuracy and reliability requirements.

Novanta’s Photonics segment delivers laser and energy delivery components that enable minimally invasive surgical procedures and diagnostic imaging.