JPMorgan Chase & Co. Has $110.95 Million Stock Position in Novanta Inc. (NASDAQ:NOVT)

JPMorgan Chase & Co. lowered its stake in shares of Novanta Inc. (NASDAQ:NOVTGet Rating) by 0.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 914,905 shares of the technology company’s stock after selling 2,325 shares during the quarter. JPMorgan Chase & Co.’s holdings in Novanta were worth $110,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOVT. Atria Investments LLC raised its holdings in shares of Novanta by 6.0% in the 1st quarter. Atria Investments LLC now owns 7,278 shares of the technology company’s stock worth $1,036,000 after acquiring an additional 412 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Novanta by 21.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 51,002 shares of the technology company’s stock worth $7,257,000 after acquiring an additional 9,128 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Novanta by 2,897.4% in the 1st quarter. Russell Investments Group Ltd. now owns 2,278 shares of the technology company’s stock worth $323,000 after acquiring an additional 2,202 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of Novanta by 26.4% in the 1st quarter. WCM Investment Management LLC now owns 32,218 shares of the technology company’s stock worth $4,584,000 after acquiring an additional 6,736 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Novanta by 133.1% in the 1st quarter. Qube Research & Technologies Ltd now owns 7,177 shares of the technology company’s stock worth $1,021,000 after purchasing an additional 4,098 shares in the last quarter. Institutional investors and hedge funds own 99.96% of the company’s stock.

Insider Activity

In other news, CEO Matthijs Glastra sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $160.06, for a total transaction of $3,201,200.00. Following the completion of the transaction, the chief executive officer now directly owns 86,558 shares of the company’s stock, valued at approximately $13,854,473.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Matthijs Glastra sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $160.06, for a total transaction of $3,201,200.00. Following the completion of the transaction, the chief executive officer now directly owns 86,558 shares of the company’s stock, valued at approximately $13,854,473.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Buckley sold 7,144 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $140.00, for a total transaction of $1,000,160.00. Following the transaction, the chief financial officer now directly owns 142,066 shares of the company’s stock, valued at $19,889,240. The disclosure for this sale can be found here. Insiders sold 31,578 shares of company stock valued at $4,847,210 in the last three months. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NOVT shares. StockNews.com started coverage on shares of Novanta in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet raised shares of Novanta from a “c+” rating to a “b-” rating in a research report on Friday, August 5th.

Novanta Trading Up 1.8 %

Shares of NOVT stock opened at $157.75 on Wednesday. Novanta Inc. has a 52-week low of $110.84 and a 52-week high of $177.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.55 and a current ratio of 2.58. The company has a 50-day simple moving average of $131.63 and a two-hundred day simple moving average of $131.67. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 77.71 and a beta of 1.26.

Novanta Profile

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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.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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