Novanta Inc. (NASDAQ:NOVT) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,447 shares of the technology company’s stock after selling 3,958 shares during the quarter. California Public Employees Retirement System owned about 0.20% of Novanta worth $12,032,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NOVT. Handelsbanken Fonder AB grew its position in Novanta by 21.3% in the third quarter. Handelsbanken Fonder AB now owns 6,611 shares of the technology company’s stock worth $948,000 after buying an additional 1,160 shares during the last quarter. Raymond James & Associates grew its position in Novanta by 2.9% in the third quarter. Raymond James & Associates now owns 48,628 shares of the technology company’s stock worth $6,975,000 after buying an additional 1,369 shares during the last quarter. Independent Advisor Alliance grew its position in Novanta by 4.5% in the third quarter. Independent Advisor Alliance now owns 3,944 shares of the technology company’s stock worth $566,000 after buying an additional 170 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Novanta by 15.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,111 shares of the technology company’s stock worth $1,020,000 after buying an additional 948 shares during the last quarter. Finally, Advisor Partners II LLC acquired a new position in Novanta in the third quarter worth approximately $441,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insiders Place Their Bets

In other Novanta news, CFO Robert Buckley sold 3,000 shares of Novanta stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $170.40, for a total transaction of $511,200.00. Following the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $20,519,397.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Novanta news, CFO Robert Buckley sold 3,000 shares of Novanta stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $170.40, for a total transaction of $511,200.00. Following the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at approximately $20,519,397.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction that occurred 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 transaction, the chief executive officer now owns 24,572 shares in the company, valued at $4,226,384. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,500 shares of company stock worth $1,611,545. Corporate insiders own 1.20% of the company’s stock.

Novanta Trading Up 0.2 %

Novanta stock opened at $156.78 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.91 and a current ratio of 2.98. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 77.23 and a beta of 1.33. Novanta Inc. has a 1 year low of $111.20 and a 1 year high of $187.60. The firm’s 50 day moving average price is $166.76 and its two-hundred day moving average price is $156.84.

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, hitting the consensus estimate of $0.63. The firm had revenue of $211.60 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. On average, research analysts predict that Novanta Inc. will post 3.22 EPS for the current fiscal year.

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.