Nicolet Advisory Services LLC Has $430,000 Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Nicolet Advisory Services LLC boosted its stake in Novanta Inc. (NASDAQ:NOVT) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,502 shares of the technology company’s stock after buying an additional 139 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Novanta were worth $430,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NOVT. Price T Rowe Associates Inc. MD raised its holdings in shares of Novanta by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,007,407 shares of the technology company’s stock worth $350,836,000 after acquiring an additional 79,718 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in Novanta by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,350,651 shares of the technology company’s stock worth $241,658,000 after purchasing an additional 20,825 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Novanta by 0.4% during the 2nd quarter. William Blair Investment Management LLC now owns 960,152 shares of the technology company’s stock worth $156,610,000 after purchasing an additional 4,079 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Novanta by 1.1% during the 3rd quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company’s stock valued at $139,566,000 after buying an additional 8,574 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Novanta by 10.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 734,728 shares of the technology company’s stock worth $131,457,000 after buying an additional 69,858 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their target price on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

Insider Activity at Novanta

In other Novanta news, CFO Robert Buckley sold 1,111 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $180.45, for a total transaction of $200,479.95. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at $21,729,608.55. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.70, for a total value of $1,347,750.00. Following the completion of the transaction, the chief executive officer now owns 56,382 shares in the company, valued at $10,131,845.40. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,650 shares of company stock worth $2,956,686. 1.20% of the stock is owned by insiders.

Novanta Price Performance

Shares of NASDAQ:NOVT opened at $169.79 on Friday. The stock has a market capitalization of $6.10 billion, a P/E ratio of 101.67 and a beta of 1.29. The business has a 50-day moving average of $173.77 and a two-hundred day moving average of $170.79. Novanta Inc. has a fifty-two week low of $142.35 and a fifty-two week high of $187.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The firm had revenue of $244.40 million during the quarter, compared to analysts’ expectations of $242.33 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. On average, equities research analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.

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.