Swiss National Bank cut its position in shares of Novanta Inc. (NASDAQ:NOVT – Get Rating) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,900 shares of the technology company’s stock after selling 300 shares during the quarter. Swiss National Bank’s holdings in Novanta were worth $10,175,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of Novanta during the first quarter worth about $25,000. Lazard Asset Management LLC grew its holdings in shares of Novanta by 18.5% during the second quarter. Lazard Asset Management LLC now owns 1,157 shares of the technology company’s stock worth $140,000 after buying an additional 181 shares in the last quarter. Marco Investment Management LLC grew its holdings in Novanta by 15.1% in the first quarter. Marco Investment Management LLC now owns 1,640 shares of the technology company’s stock valued at $233,000 after purchasing an additional 215 shares during the period. Xponance Inc. grew its holdings in Novanta by 14.5% in the second quarter. Xponance Inc. now owns 1,922 shares of the technology company’s stock valued at $233,000 after purchasing an additional 243 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in Novanta by 4.4% in the first quarter. Teacher Retirement System of Texas now owns 7,227 shares of the technology company’s stock valued at $1,028,000 after purchasing an additional 307 shares during the period. 99.96% of the stock is currently owned by hedge funds and other institutional investors.
Novanta Price Performance
NOVT opened at $155.15 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 0.81. Novanta Inc. has a 52-week low of $110.84 and a 52-week high of $177.50. The company has a 50 day moving average of $130.78 and a two-hundred day moving average of $131.24. The company has a market cap of $5.54 billion, a P/E ratio of 76.43 and a beta of 1.26.
Insiders Place Their Bets
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on NOVT. TheStreet upgraded shares of Novanta from a “c+” rating to a “b-” rating in a report on Friday, August 5th. StockNews.com began coverage on shares of Novanta in a report on Wednesday, October 12th. They issued a “hold” rating for the company.
Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and 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.
- Get a free copy of the StockNews.com research report on Novanta (NOVT)
- Is GameStop Stock Setting Up for Another Short Squeeze?
- Here’s Why SoFi Technologies Stock is Cheap at These Levels
- Warren Buffet Bought Taiwan Semiconductor Stock, Should You?
- MarketBeat: Week in Review 11/14 – 11/18
- Target’s Double Bottom Might Have Just Been Confirmed
Receive News & Ratings for Novanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novanta and related companies with MarketBeat.com's FREE daily email newsletter.