Moody Aldrich Partners LLC Sells 581 Shares of Novanta Inc. (NASDAQ:NOVT)

Moody Aldrich Partners LLC decreased its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,145 shares of the technology company’s stock after selling 581 shares during the quarter. Moody Aldrich Partners LLC owned about 0.06% of Novanta worth $3,230,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NOVT. GAMMA Investing LLC lifted its position in shares of Novanta by 33.1% in the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after acquiring an additional 59 shares during the period. GHP Investment Advisors Inc. bought a new stake in shares of Novanta in the 3rd quarter worth approximately $49,000. nVerses Capital LLC bought a new stake in shares of Novanta in the 3rd quarter worth approximately $54,000. Van ECK Associates Corp lifted its position in shares of Novanta by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 963 shares of the technology company’s stock worth $166,000 after acquiring an additional 213 shares during the period. Finally, KBC Group NV lifted its position in shares of Novanta by 14.9% in the 3rd quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock worth $189,000 after acquiring an additional 137 shares during the period. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling

In related news, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.70, for a total transaction of $1,347,750.00. Following the completion of the sale, the chief executive officer now directly owns 56,382 shares of the company’s stock, valued at $10,131,845.40. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Novanta Price Performance

Novanta stock opened at $148.14 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The company has a market capitalization of $5.32 billion, a PE ratio of 88.71 and a beta of 1.28. Novanta Inc. has a one year low of $143.18 and a one year high of $187.12. The business has a 50 day simple moving average of $157.62 and a 200 day simple moving average of $169.02.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business 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%. Novanta’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. On average, sell-side analysts forecast that Novanta Inc. will post 3.03 EPS for the current fiscal year.

About Novanta

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.