Champlain Investment Partners LLC Sells 44,610 Shares of Novanta Inc. (NASDAQ:NOVT)

Champlain Investment Partners LLC cut its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 462,102 shares of the technology company’s stock after selling 44,610 shares during the period. Champlain Investment Partners LLC’s holdings in Novanta were worth $82,679,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Novanta by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock valued at $674,860,000 after buying an additional 45,937 shares in the last quarter. Clearline Capital LP boosted its position in shares of Novanta by 71.1% in the second quarter. Clearline Capital LP now owns 11,497 shares of the technology company’s stock worth $1,875,000 after purchasing an additional 4,778 shares during the period. GAMMA Investing LLC increased its stake 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 purchasing an additional 59 shares in the last quarter. Raymond James & Associates increased its stake in shares of Novanta by 3.5% in the second quarter. Raymond James & Associates now owns 50,640 shares of the technology company’s stock worth $8,260,000 after purchasing an additional 1,720 shares in the last quarter. Finally, Blair William & Co. IL raised its position 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 purchasing an additional 41,296 shares during the period. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Novanta

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 56,382 shares in the company, valued at $10,131,845.40. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert Buckley sold 3,660 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $174.01, for a total value of $636,876.60. Following the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at $20,954,110.19. This trade represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,650 shares of company stock worth $2,956,686. Insiders own 1.20% of the company’s stock.

Novanta Stock Performance

NASDAQ:NOVT opened at $169.79 on Friday. The stock has a 50-day moving average price of $173.80 and a 200 day moving average price of $170.73. The stock has a market capitalization of $6.10 billion, a P/E ratio of 101.67 and a beta of 1.29. Novanta Inc. has a 12-month low of $142.35 and a 12-month high of $187.12. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The firm had revenue of $244.40 million for the quarter, compared to analysts’ expectations of $242.33 million. During the same quarter last year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts forecast that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.