10,100 Shares in Novanta Inc. (NASDAQ:NOVT) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in Novanta Inc. (NASDAQ:NOVT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,100 shares of the technology company’s stock, valued at approximately $1,701,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Novanta by 0.6% in the third quarter. Vanguard Group Inc. now owns 3,766,008 shares of the technology company’s stock worth $540,196,000 after purchasing an additional 22,294 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in Novanta by 0.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,286,496 shares of the technology company’s stock worth $216,659,000 after purchasing an additional 7,460 shares in the last quarter. State Street Corp raised its holdings in Novanta by 2.7% in the first quarter. State Street Corp now owns 1,177,700 shares of the technology company’s stock worth $187,360,000 after purchasing an additional 30,979 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Novanta by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,067,849 shares of the technology company’s stock worth $169,885,000 after purchasing an additional 82,705 shares in the last quarter. Finally, Capital International Investors increased its holdings in shares of Novanta by 0.4% during the first quarter. Capital International Investors now owns 1,015,687 shares of the technology company’s stock valued at $144,522,000 after acquiring an additional 4,500 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Novanta Price Performance

Shares of NASDAQ:NOVT opened at $149.41 on Friday. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $187.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.98 and a quick ratio of 1.91. The business has a fifty day moving average price of $167.26 and a 200-day moving average price of $156.05. The company has a market capitalization of $5.36 billion, a PE ratio of 73.60 and a beta of 1.33.

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

Insider Activity at Novanta

In related news, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $172.00, for a total transaction of $860,000.00. Following the sale, the chief executive officer now directly owns 24,572 shares of the company’s stock, valued at $4,226,384. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Robert Buckley sold 1,500 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $156.41, for a total transaction of $234,615.00. Following the sale, the chief financial officer now directly owns 121,659 shares of the company’s stock, valued at $19,028,684.19. The transaction was disclosed in a legal 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 dated Monday, April 1st. The stock was sold at an average price of $172.00, for a total value of $860,000.00. Following the completion of the transaction, the chief executive officer now directly owns 24,572 shares in the company, valued at $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. 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.