New York State Teachers Retirement System acquired a new position in Novanta Inc. (NASDAQ:NOVT – Get Rating) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 5,876 shares of the technology company’s stock, valued at approximately $680,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heritage Wealth Management LLC bought a new position in Novanta in the 2nd quarter worth about $28,000. Lazard Asset Management LLC grew its stake in Novanta by 23.1% in the 1st quarter. Lazard Asset Management LLC now owns 976 shares of the technology company’s stock worth $138,000 after acquiring an additional 183 shares in the last quarter. Quantbot Technologies LP bought a new position in Novanta in the 2nd quarter worth about $192,000. Captrust Financial Advisors grew its stake in Novanta by 227.3% in the 1st quarter. Captrust Financial Advisors now owns 1,545 shares of the technology company’s stock worth $220,000 after acquiring an additional 1,073 shares in the last quarter. Finally, TownSquare Capital LLC bought a new position in Novanta in the 2nd quarter worth about $224,000. 97.55% of the stock is owned by hedge funds and other institutional investors.
Novanta Price Performance
Shares of NOVT stock opened at $150.66 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.58 and a quick ratio of 1.55. The company has a market capitalization of $5.38 billion, a P/E ratio of 74.22 and a beta of 1.30. The company’s 50-day simple moving average is $147.86 and its two-hundred day simple moving average is $138.70. Novanta Inc. has a one year low of $110.84 and a one year high of $162.48.
Insider Activity at Novanta
In related news, CEO Matthijs Glastra sold 20,000 shares of Novanta 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 transaction, the chief executive officer now directly owns 86,558 shares of the company’s stock, valued at $13,854,473.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Novanta news, Director Thomas N. Secor sold 550 shares of Novanta stock in a transaction on Monday, October 24th. The shares were sold at an average price of $125.00, for a total value of $68,750.00. Following the transaction, the director now directly owns 1,655 shares of the company’s stock, valued at $206,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthijs Glastra sold 20,000 shares of Novanta stock in a transaction on Tuesday, November 15th. The stock was 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 in the company, valued at $13,854,473.48. The disclosure for this sale can be found here. Insiders have sold a total of 47,044 shares of company stock valued at $7,150,713 over the last ninety days. 1.40% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Separately, StockNews.com began coverage on shares of Novanta in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.
Novanta Company Profile
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)
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