Swiss National Bank Raises Holdings in Novanta Inc. (NASDAQ:NOVT)

Swiss National Bank boosted its stake in Novanta Inc. (NASDAQ:NOVTFree Report) by 1.0% in the third quarter, HoldingsChannel reports. The firm owned 78,800 shares of the technology company’s stock after acquiring an additional 800 shares during the period. Swiss National Bank’s holdings in Novanta were worth $11,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp purchased a new position in shares of Novanta during the 2nd quarter valued at about $34,000. Point72 Middle East FZE bought a new position in Novanta in the 4th quarter worth $57,000. UBS Group AG raised its stake in Novanta by 85.7% during the 3rd quarter. UBS Group AG now owns 544 shares of the technology company’s stock valued at $63,000 after purchasing an additional 251 shares during the period. Harbor Investment Advisory LLC boosted its stake in Novanta by 15.6% in the 3rd quarter. Harbor Investment Advisory LLC now owns 645 shares of the technology company’s stock worth $93,000 after purchasing an additional 87 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Novanta by 16.7% during the 3rd quarter. Fifth Third Bancorp now owns 721 shares of the technology company’s stock valued at $103,000 after buying an additional 103 shares in the last quarter. 96.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, TheStreet raised Novanta from a “c+” rating to a “b-” rating in a research note on Thursday, December 28th.

Read Our Latest Stock Analysis on NOVT

Insider Activity at Novanta

In other Novanta news, CFO Robert Buckley sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $150.87, for a total value of $452,610.00. Following the completion of the sale, the chief financial officer now owns 132,056 shares of the company’s stock, valued at $19,923,288.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Matthijs Glastra sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $164.38, for a total value of $821,900.00. Following the transaction, the chief executive officer now directly owns 10,202 shares of the company’s stock, valued at approximately $1,677,004.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert Buckley sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $150.87, for a total value of $452,610.00. Following the completion of the sale, the chief financial officer now owns 132,056 shares in the company, valued at approximately $19,923,288.72. The disclosure for this sale can be found here. Insiders have sold 14,900 shares of company stock valued at $2,394,272 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Novanta Stock Performance

NOVT stock opened at $166.29 on Tuesday. Novanta Inc. has a one year low of $111.20 and a one year high of $187.60. The firm has a 50-day simple moving average of $159.99 and a two-hundred day simple moving average of $152.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.72 and a current ratio of 2.83. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 79.19 and a beta of 1.33.

Novanta Company Profile

(Free Report)

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion in the United States and internationally. The company operates through three segments: Photonics, Vision, and Precision Motion. The Photonics segment offers photonics-based solutions, including laser scanning, 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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