Oregon Public Employees Retirement Fund Buys New Shares in Novanta Inc. (NASDAQ:NOVT)

Oregon Public Employees Retirement Fund bought a new stake in shares of Novanta Inc. (NASDAQ:NOVTGet Rating) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 10,423 shares of the technology company’s stock, valued at approximately $1,205,000.

A number of other large investors also recently modified their holdings of NOVT. Crossmark Global Holdings Inc. bought a new stake in Novanta in the 3rd quarter valued at $308,000. Brinker Capital Investments LLC acquired a new position in Novanta during the 3rd quarter valued at approximately $232,000. Great West Life Assurance Co. Can acquired a new stake in shares of Novanta in the third quarter worth $2,830,000. Raymond James Trust N.A. boosted its holdings in Novanta by 3.8% during the third quarter. Raymond James Trust N.A. now owns 2,441 shares of the technology company’s stock worth $282,000 after buying an additional 89 shares in the last quarter. Finally, GHP Investment Advisors Inc. purchased a new stake in Novanta during the third quarter worth $32,000. Hedge funds and other institutional investors own 97.55% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Novanta in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

Novanta Price Performance

Novanta stock opened at $152.97 on Monday. The firm has a market capitalization of $5.46 billion, a PE ratio of 75.36 and a beta of 1.30. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 0.81. The firm’s 50-day simple moving average is $147.81 and its 200 day simple moving average is $139.17. Novanta Inc. has a 52 week low of $110.84 and a 52 week high of $162.48.

Novanta (NASDAQ:NOVTGet Rating) last released its earnings results on Tuesday, November 8th. The technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.73 by $0.08. The company had revenue of $222.96 million during the quarter, compared to analysts’ expectations of $215.01 million. Novanta had a return on equity of 20.16% and a net margin of 8.62%. On average, equities research analysts predict that Novanta Inc. will post 3.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Robert Buckley sold 216 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $140.18, for a total value of $30,278.88. Following the transaction, the chief financial officer now directly owns 133,813 shares of the company’s stock, valued at approximately $18,757,906.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Matthijs Glastra sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $160.06, for a total value of $3,201,200.00. Following the completion of the sale, the chief executive officer now owns 86,558 shares in the company, valued at $13,854,473.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Buckley sold 216 shares of the stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $140.18, for a total value of $30,278.88. Following the completion of the sale, the chief financial officer now owns 133,813 shares of the company’s stock, valued at $18,757,906.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,494 shares of company stock worth $7,081,963. 1.40% of the stock is currently owned by company insiders.

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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