Advantage Alpha Capital Partners LP Sells 21,747 Shares of Novanta Inc. (NASDAQ:NOVT)

Advantage Alpha Capital Partners LP lowered its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 57.4% during the third quarter, Holdings Channel reports. The firm owned 16,123 shares of the technology company’s stock after selling 21,747 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Novanta were worth $2,885,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clearline Capital LP increased its position in Novanta by 71.1% during the second quarter. Clearline Capital LP now owns 11,497 shares of the technology company’s stock worth $1,875,000 after buying an additional 4,778 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Novanta by 33.1% in the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after buying an additional 59 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Novanta by 3.5% during the 2nd quarter. Raymond James & Associates now owns 50,640 shares of the technology company’s stock worth $8,260,000 after acquiring an additional 1,720 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Novanta by 10.1% during the 2nd quarter. Blair William & Co. IL now owns 448,604 shares of the technology company’s stock valued at $73,172,000 after acquiring an additional 41,296 shares during the last quarter. Finally, Argent Capital Management LLC bought a new position in shares of Novanta in the 2nd quarter valued at approximately $294,000. Institutional investors own 98.35% of the company’s stock.

Novanta Stock Performance

Shares of NOVT opened at $173.43 on Tuesday. The company has a market capitalization of $6.23 billion, a PE ratio of 103.85 and a beta of 1.29. 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 Inc. has a one year low of $142.35 and a one year high of $187.12. The company’s fifty day moving average price is $173.81 and its 200 day moving average price is $171.02.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 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 business had revenue of $244.40 million for the quarter, compared to analyst estimates of $242.33 million. During the same period in the previous year, the company posted $0.85 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts expect that Novanta Inc. will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Novanta

In related news, CFO Robert Buckley sold 4,379 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $176.20, for a total value of $771,579.80. Following the completion of the sale, the chief financial officer now owns 120,419 shares in the company, valued at approximately $21,217,827.80. This trade represents a 3.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the chief executive officer now directly owns 56,382 shares in the company, valued at approximately $10,131,845.40. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,650 shares of company stock worth $2,956,686 over the last three months. 1.20% of the stock is currently owned by insiders.

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.