2,465 Shares in Novanta Inc. (NASDAQ:NOVT) Acquired by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL purchased a new position in shares of Novanta Inc. (NASDAQ:NOVT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,465 shares of the technology company’s stock, valued at approximately $435,000.

A number of other institutional investors have also added to or reduced their stakes in NOVT. GAMMA Investing LLC raised its stake in Novanta by 33.1% during the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after buying an additional 59 shares during the period. GHP Investment Advisors Inc. purchased a new stake in shares of Novanta in the third quarter worth approximately $49,000. nVerses Capital LLC purchased a new stake in shares of Novanta in the third quarter worth approximately $54,000. Signaturefd LLC raised its stake in shares of Novanta by 38.3% in the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after purchasing an additional 100 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Novanta by 47.6% in the second quarter. Van ECK Associates Corp now owns 750 shares of the technology company’s stock worth $122,000 after purchasing an additional 242 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Price Performance

Shares of NASDAQ NOVT opened at $168.19 on Monday. The stock has a fifty day simple moving average of $174.01 and a two-hundred day simple moving average of $170.63. Novanta Inc. has a 1-year low of $137.82 and a 1-year high of $187.12. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 100.71 and a beta of 1.29. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business had revenue of $244.40 million during the quarter, compared to analyst estimates of $242.33 million. During the same period in the prior year, the company earned $0.85 earnings per share. Novanta’s revenue was up 10.3% compared to the same quarter last year. Analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 56,382 shares of the company’s stock, valued at approximately $10,131,845.40. This represents a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert Buckley sold 1,111 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.45, for a total transaction of $200,479.95. Following the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at $21,729,608.55. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,650 shares of company stock valued at $2,956,686. Corporate insiders own 1.20% of the company’s stock.

Novanta 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.