Spire Wealth Management Has $331,000 Position in Novanta Inc. (NASDAQ:NOVT)

Spire Wealth Management lessened its holdings in shares of Novanta Inc. (NASDAQ:NOVTFree Report) by 7.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,309 shares of the technology company’s stock after selling 199 shares during the quarter. Spire Wealth Management’s holdings in Novanta were worth $331,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Metropolitan Life Insurance Co NY increased its stake in Novanta by 3.4% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 2,185 shares of the technology company’s stock valued at $297,000 after purchasing an additional 72 shares in the last quarter. Prudential Financial Inc. increased its stake in Novanta by 2.0% during the 1st quarter. Prudential Financial Inc. now owns 3,903 shares of the technology company’s stock valued at $468,000 after purchasing an additional 77 shares in the last quarter. Fifth Third Bancorp increased its stake in Novanta by 14.9% during the 2nd quarter. Fifth Third Bancorp now owns 618 shares of the technology company’s stock valued at $114,000 after purchasing an additional 80 shares in the last quarter. Truist Financial Corp increased its stake in Novanta by 0.7% during the 4th quarter. Truist Financial Corp now owns 11,154 shares of the technology company’s stock valued at $1,515,000 after purchasing an additional 83 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in Novanta by 15.6% during the 3rd quarter. Harbor Investment Advisory LLC now owns 645 shares of the technology company’s stock valued at $93,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 96.84% of the company’s stock.

Analyst Ratings Changes

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

Read Our Latest Report on NOVT

Novanta Stock Performance

Shares of NOVT stock opened at $163.28 on Friday. The firm has a 50-day moving average of $159.22 and a 200-day moving average of $152.78. The company has a market cap of $5.85 billion, a P/E ratio of 77.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.83 and a quick ratio of 1.72. Novanta Inc. has a one year low of $111.20 and a one year high of $187.60.

Novanta (NASDAQ:NOVTGet Free Report) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. The company had revenue of $221.50 million during the quarter, compared to the consensus estimate of $223.18 million. Novanta had a net margin of 8.51% and a return on equity of 18.54%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share. Equities research analysts forecast that Novanta Inc. will post 3.02 EPS for the current fiscal year.

Insider Activity

In related news, CFO Robert Buckley sold 3,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $150.87, for a total transaction of $452,610.00. Following the completion of the transaction, the chief financial officer now owns 132,056 shares in the company, valued at $19,923,288.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $164.38, for a total transaction of $821,900.00. Following the completion of the transaction, the chief executive officer now owns 10,202 shares in the company, valued at $1,677,004.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert Buckley sold 3,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $150.87, for a total transaction of $452,610.00. Following the transaction, the chief financial officer now owns 132,056 shares of the company’s stock, valued at approximately $19,923,288.72. The disclosure for this sale can be found here. Insiders sold a total of 13,400 shares of company stock worth $2,153,927 over the last quarter. Insiders own 1.20% of the company’s stock.

Novanta Profile

(Free Report)

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion in the United States and internationally. The company operates through three segments: Photonics, Vision, and Precision Motion. The Photonics segment offers photonics-based solutions, including laser scanning, beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products serving photonics-based applications for industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

Further Reading

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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