Swiss National Bank Lowers Stake in Novanta Inc. (NASDAQ:NOVT)

Swiss National Bank reduced its holdings in shares of Novanta Inc. (NASDAQ:NOVTGet Rating) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 83,900 shares of the technology company’s stock after selling 300 shares during the period. Swiss National Bank owned approximately 0.24% of Novanta worth $10,175,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MQS Management LLC purchased a new stake in shares of Novanta in the second quarter valued at about $227,000. Moody Aldrich Partners LLC purchased a new stake in shares of Novanta in the second quarter valued at about $3,396,000. Comerica Bank boosted its holdings in shares of Novanta by 2.4% in the second quarter. Comerica Bank now owns 106,569 shares of the technology company’s stock valued at $13,610,000 after acquiring an additional 2,543 shares in the last quarter. Transatlantique Private Wealth LLC purchased a new stake in shares of Novanta in the second quarter valued at about $606,000. Finally, Xponance Inc. boosted its holdings in shares of Novanta by 14.5% in the second quarter. Xponance Inc. now owns 1,922 shares of the technology company’s stock valued at $233,000 after acquiring an additional 243 shares in the last quarter. 99.96% of the stock is owned by hedge funds and other institutional investors.

Novanta Stock Down 0.4 %

Shares of NASDAQ NOVT opened at $155.15 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 0.81. Novanta Inc. has a 52 week low of $110.84 and a 52 week high of $177.50. The firm has a 50-day moving average price of $130.78 and a 200 day moving average price of $131.24. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 76.43 and a beta of 1.26.

Wall Street Analyst Weigh In

NOVT has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Novanta in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet upgraded shares of Novanta from a “c+” rating to a “b-” rating in a research note on Friday, August 5th.

Insider Activity at Novanta

In related news, Director Thomas N. Secor sold 550 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $125.00, for a total value of $68,750.00. Following the completion of the sale, the director now owns 1,655 shares in the company, valued at $206,875. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Novanta news, CFO Robert Buckley sold 7,144 shares of Novanta stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $140.00, for a total transaction of $1,000,160.00. Following the completion of the transaction, the chief financial officer now owns 142,066 shares in the company, valued at $19,889,240. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Secor sold 550 shares of Novanta stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $125.00, for a total transaction of $68,750.00. Following the transaction, the director now owns 1,655 shares of the company’s stock, valued at approximately $206,875. The disclosure for this sale can be found here. Insiders sold 31,578 shares of company stock worth $4,847,210 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Novanta Company Profile

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Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products serving photonics-based applications for industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

See Also

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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