Novanta Inc. (NASDAQ:NOVT) Stock Position Decreased by American International Group Inc.

American International Group Inc. cut its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,887 shares of the technology company’s stock after selling 2,143 shares during the period. American International Group Inc. owned approximately 0.18% of Novanta worth $11,096,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Wasatch Advisors LP raised its holdings in shares of Novanta by 1.3% during the fourth quarter. Wasatch Advisors LP now owns 921,536 shares of the technology company’s stock valued at $155,196,000 after acquiring an additional 11,840 shares during the period. Public Employees Retirement Association of Colorado raised its stake in Novanta by 475.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 170,575 shares of the technology company’s stock valued at $28,727,000 after purchasing an additional 140,931 shares during the period. Axiom Investors LLC DE lifted its holdings in shares of Novanta by 138.1% in the fourth quarter. Axiom Investors LLC DE now owns 65,628 shares of the technology company’s stock valued at $11,052,000 after purchasing an additional 38,061 shares in the last quarter. Evoke Wealth LLC acquired a new stake in shares of Novanta in the fourth quarter worth $3,639,000. Finally, TFO Wealth Partners LLC boosted its position in shares of Novanta by 62,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 629 shares of the technology company’s stock worth $106,000 after buying an additional 628 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Thomas N. Secor sold 1,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $158.60, for a total transaction of $158,600.00. Following the completion of the sale, the director now directly owns 928 shares in the company, valued at $147,180.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Thomas N. Secor sold 1,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $158.60, for a total value of $158,600.00. Following the transaction, the director now owns 928 shares in the company, valued at $147,180.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthijs Glastra sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $172.00, for a total transaction of $860,000.00. Following the transaction, the chief executive officer now directly owns 24,572 shares in the company, valued at approximately $4,226,384. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Novanta Stock Up 1.9 %

NASDAQ:NOVT opened at $164.32 on Tuesday. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $187.60. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 85.14 and a beta of 1.34. The company has a current ratio of 2.83, a quick ratio of 1.77 and a debt-to-equity ratio of 0.75. The business’s fifty day moving average price is $161.19 and its 200 day moving average price is $162.90.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. Novanta had a net margin of 7.76% and a return on equity of 16.58%. The business had revenue of $230.92 million during the quarter, compared to analyst estimates of $227.85 million. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Novanta Inc. will post 3.26 earnings per share for the current fiscal year.

About Novanta

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.