5,876 Shares in Novanta Inc. (NASDAQ:NOVT) Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System acquired a new position in Novanta Inc. (NASDAQ:NOVTGet 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.

Novanta (NASDAQ:NOVTGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. The company had revenue of $222.96 million for the quarter, compared to analyst estimates of $215.01 million. Novanta had a net margin of 8.62% and a return on equity of 20.16%. As a group, equities analysts anticipate that Novanta Inc. will post 3.01 EPS for the current year.

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

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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