Loomis Sayles & Co. L P Has $51.79 Million Position in Novanta Inc. (NASDAQ:NOVT)

Loomis Sayles & Co. L P boosted its position in Novanta Inc. (NASDAQ:NOVT) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 289,473 shares of the technology company’s stock after buying an additional 6,019 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.81% of Novanta worth $51,792,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 59 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in Novanta during the third quarter worth $49,000. nVerses Capital LLC acquired a new stake in Novanta in the third quarter valued at $54,000. Signaturefd LLC grew its position in shares of Novanta by 38.3% in the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock valued at $59,000 after acquiring an additional 100 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Novanta by 47.6% during the 2nd 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. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Novanta

In other Novanta news, CFO Robert Buckley sold 4,379 shares of Novanta stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $176.20, for a total transaction of $771,579.80. Following the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $21,217,827.80. The trade was a 3.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.70, for a total value of $1,347,750.00. Following the completion of the sale, the chief executive officer now owns 56,382 shares in the company, valued at $10,131,845.40. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,650 shares of company stock worth $2,956,686. 1.20% of the stock is currently owned by company insiders.

Novanta Stock Performance

NASDAQ NOVT opened at $173.43 on Tuesday. Novanta Inc. has a 1 year low of $142.35 and a 1 year high of $187.12. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 103.85 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. The firm’s 50 day simple moving average is $173.81 and its 200 day simple moving average is $171.02.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $244.40 million during the quarter, compared to the consensus estimate of $242.33 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. As a group, research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

About Novanta

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.