Strs Ohio Decreases Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Strs Ohio reduced its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,100 shares of the technology company’s stock after selling 300 shares during the quarter. Strs Ohio’s holdings in Novanta were worth $690,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NOVT. Clearbridge Investments LLC purchased a new stake in Novanta during the third quarter worth approximately $25,374,000. Charles Schwab Investment Management Inc. grew its stake in Novanta by 34.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 412,424 shares of the technology company’s stock worth $59,158,000 after buying an additional 104,537 shares during the period. JPMorgan Chase & Co. grew its stake in Novanta by 12.5% during the third quarter. JPMorgan Chase & Co. now owns 832,203 shares of the technology company’s stock worth $119,371,000 after buying an additional 92,243 shares during the period. Invesco Ltd. grew its stake in Novanta by 11.8% during the third quarter. Invesco Ltd. now owns 665,901 shares of the technology company’s stock worth $95,517,000 after buying an additional 70,369 shares during the period. Finally, Blair William & Co. IL grew its stake in Novanta by 21.7% during the third quarter. Blair William & Co. IL now owns 308,961 shares of the technology company’s stock worth $44,317,000 after buying an additional 54,995 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Novanta Price Performance

Shares of NOVT stock opened at $156.25 on Friday. The company has a market capitalization of $5.60 billion, a PE ratio of 76.97 and a beta of 1.33. The firm has a fifty day simple moving average of $166.90 and a 200-day simple moving average of $156.46. The company has a current ratio of 2.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.52. Novanta Inc. has a twelve month low of $111.20 and a twelve month high of $187.60.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. The firm had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $210.90 million. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. Equities research analysts anticipate that Novanta Inc. will post 3.22 earnings per share for the current fiscal year.

Insider Activity at Novanta

In other Novanta news, CFO Robert Buckley sold 1,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $160.23, for a total transaction of $240,345.00. Following the sale, the chief financial officer now directly owns 120,159 shares of the company’s stock, valued at $19,253,076.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Novanta news, CFO Robert Buckley sold 1,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $160.23, for a total transaction of $240,345.00. Following the sale, the chief financial officer now directly owns 120,159 shares of the company’s stock, valued at $19,253,076.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthijs Glastra sold 5,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $172.00, for a total transaction of $860,000.00. Following the transaction, the chief executive officer now owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The disclosure for this sale can be found here. Insiders have sold 11,000 shares of company stock valued at $1,846,160 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

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.