Moody Aldrich Partners LLC Lowers Stock Position in Novanta Inc. (NASDAQ:NOVT)

Moody Aldrich Partners LLC reduced its stake in Novanta Inc. (NASDAQ:NOVT - Free Report) by 33.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,832 shares of the technology company's stock after selling 10,620 shares during the quarter. Moody Aldrich Partners LLC owned 0.06% of Novanta worth $3,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOVT. Operose Advisors LLC acquired a new position in Novanta in the 3rd quarter valued at approximately $34,000. Point72 Middle East FZE bought a new stake in Novanta during the 4th quarter worth approximately $57,000. UBS Group AG increased its holdings in shares of Novanta by 85.7% in the 3rd quarter. UBS Group AG now owns 544 shares of the technology company's stock worth $63,000 after buying an additional 251 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Novanta in the 3rd quarter valued at $78,000. Finally, Harbor Investment Advisory LLC raised its holdings in Novanta by 15.6% in the 3rd quarter. Harbor Investment Advisory LLC now owns 645 shares of the technology company's stock worth $93,000 after purchasing an additional 87 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, TheStreet raised shares of Novanta from a "c+" rating to a "b-" rating in a report on Thursday, December 28th.

Novanta Price Performance

Shares of NASDAQ:NOVT traded up $1.89 during midday trading on Tuesday, reaching $170.49. 82,889 shares of the company's stock traded hands, compared to its average volume of 128,285. The company has a fifty day simple moving average of $167.20 and a two-hundred day simple moving average of $155.06. Novanta Inc. has a 1 year low of $111.20 and a 1 year high of $187.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.91 and a current ratio of 2.98. The company has a market cap of $6.11 billion, a P/E ratio of 83.05 and a beta of 1.33.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its earnings results on Wednesday, February 28th. The technology company reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. Novanta had a return on equity of 17.15% and a net margin of 8.27%. The firm had revenue of $211.60 million during the quarter, compared to analysts' expectations of $210.90 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm's revenue was down 3.1% compared to the same quarter last year. Equities analysts predict that Novanta Inc. will post 3.22 EPS for the current fiscal year.

Insider Transactions at Novanta

In other news, CFO Robert Buckley sold 1,500 shares of Novanta stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $160.23, for a total value of $240,345.00. Following the completion of the transaction, the chief financial officer now owns 120,159 shares in the company, valued at approximately $19,253,076.57. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Novanta news, CEO Matthijs Glastra sold 5,000 shares of the company's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $172.00, for a total value of $860,000.00. Following the completion of the transaction, the chief executive officer now owns 24,572 shares of the company's stock, valued at approximately $4,226,384. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Robert Buckley sold 1,500 shares of the company's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $160.23, for a total value of $240,345.00. Following the completion of the sale, the chief financial officer now owns 120,159 shares in the company, valued at $19,253,076.57. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock worth $1,846,160 in the last three months. 1.20% of the stock is currently owned by company insiders.

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.