Novanta Inc. (NASDAQ:NOVT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its holdings in Novanta Inc. (NASDAQ:NOVT) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,676 shares of the technology company’s stock after selling 100 shares during the period. New York State Teachers Retirement System’s holdings in Novanta were worth $1,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State of Alaska Department of Revenue grew its position in Novanta by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 4,151 shares of the technology company’s stock worth $742,000 after buying an additional 280 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in shares of Novanta in the 3rd quarter worth $49,000. Values First Advisors Inc. acquired a new stake in shares of Novanta during the third quarter worth $221,000. Argent Capital Management LLC lifted its holdings in shares of Novanta by 61.6% during the third quarter. Argent Capital Management LLC now owns 2,911 shares of the technology company’s stock valued at $521,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Precision Wealth Strategies LLC acquired a new position in shares of Novanta in the 3rd quarter valued at $223,000. 98.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Novanta

In other news, CFO Robert Buckley sold 1,111 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $180.45, for a total value of $200,479.95. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $21,729,608.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 9,150 shares of company stock valued at $1,608,936 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Novanta Stock Up 0.6 %

Shares of NASDAQ:NOVT opened at $182.65 on Friday. Novanta Inc. has a 52 week low of $120.19 and a 52 week high of $187.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.73 and a current ratio of 2.79. The company has a market cap of $6.56 billion, a PE ratio of 109.37 and a beta of 1.29. The firm has a 50 day simple moving average of $174.21 and a 200 day simple moving average of $170.13.

Novanta (NASDAQ:NOVT) last issued its earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $244.40 million during the quarter, compared to analysts’ expectations of $242.33 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. Novanta’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price objective on Novanta from $175.00 to $169.00 and set a “neutral” rating on the stock in a report on Wednesday.

Novanta Company Profile

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.