Novanta Inc (NOVT) Shares Sold by Advisory Research Inc.

Advisory Research Inc. decreased its holdings in shares of Novanta Inc (NASDAQ:NOVT) by 34.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 19,665 shares of the technology company’s stock after selling 10,514 shares during the period. Advisory Research Inc. owned approximately 0.06% of Novanta worth $1,345,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in Novanta by 58.7% in the second quarter. Envestnet Asset Management Inc. now owns 2,571 shares of the technology company’s stock valued at $160,000 after buying an additional 951 shares during the last quarter. Advisory Services Network LLC boosted its position in Novanta by 430.0% in the second quarter. Advisory Services Network LLC now owns 2,650 shares of the technology company’s stock valued at $182,000 after buying an additional 2,150 shares during the last quarter. Zions Bancorporation purchased a new stake in Novanta in the second quarter valued at approximately $220,000. Xact Kapitalforvaltning AB boosted its position in Novanta by 17.1% in the third quarter. Xact Kapitalforvaltning AB now owns 6,151 shares of the technology company’s stock valued at $421,000 after buying an additional 900 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Novanta in the third quarter valued at approximately $428,000. Institutional investors and hedge funds own 86.89% of the company’s stock.

Shares of NASDAQ:NOVT opened at $64.93 on Friday. Novanta Inc has a 12-month low of $43.65 and a 12-month high of $78.85. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 40.58 and a beta of 1.72. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.89 and a quick ratio of 1.97.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.09. The company had revenue of $160.79 million during the quarter, compared to the consensus estimate of $154.43 million. Novanta had a return on equity of 18.95% and a net margin of 6.18%. Novanta’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share. On average, sell-side analysts anticipate that Novanta Inc will post 2.06 EPS for the current year.

A number of equities research analysts recently commented on the company. ValuEngine lowered Novanta from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Zacks Investment Research upgraded Novanta from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Saturday, August 11th. Finally, BidaskClub upgraded Novanta from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $67.00.

In other news, Director Stephen W. Bershad sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $68.15, for a total transaction of $34,075,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Buckley sold 13,487 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $72.90, for a total value of $983,202.30. Following the transaction, the chief financial officer now directly owns 157,027 shares of the company’s stock, valued at $11,447,268.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 533,487 shares of company stock valued at $36,538,202. Corporate insiders own 6.70% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Novanta Inc (NOVT) Shares Sold by Advisory Research Inc.” was originally reported by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another site, it was stolen and republished in violation of US and international trademark & copyright laws. The original version of this article can be read at https://www.com-unik.info/2018/12/02/novanta-inc-novt-shares-sold-by-advisory-research-inc.html.

Novanta Profile

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

Featured Story: Earnings Per Share (EPS)

Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

Receive News & Ratings for Novanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novanta and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit