10,423 Shares in Novanta Inc. (NASDAQ:NOVT) Acquired by Oregon Public Employees Retirement Fund

Posted by Defense World Staff on Jan 23rd, 2023

Oregon Public Employees Retirement Fund purchased a new position in shares of Novanta Inc. (NASDAQ:NOVT – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,423 shares of the technology company’s stock, valued at approximately $1,205,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Heritage Wealth Management LLC bought a new position in Novanta during the second quarter valued at about $28,000. GHP Investment Advisors Inc. bought a new position in Novanta in the 3rd quarter worth approximately $32,000. Lazard Asset Management LLC increased its position in shares of Novanta by 23.1% during the first quarter. Lazard Asset Management LLC now owns 976 shares of the technology company’s stock valued at $138,000 after purchasing an additional 183 shares during the period. Captrust Financial Advisors increased its position in shares of Novanta by 227.3% during the first quarter. Captrust Financial Advisors now owns 1,545 shares of the technology company’s stock valued at $220,000 after purchasing an additional 1,073 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Novanta during the second quarter valued at approximately $192,000. Institutional investors own 97.55% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Novanta in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Insider Transactions at Novanta

In other news, Director Thomas N. Secor sold 550 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $140.00, for a total transaction of $77,000.00. Following the transaction, the director now owns 1,105 shares in the company, valued at $154,700. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Thomas N. Secor sold 550 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $140.00, for a total transaction of $77,000.00. Following the transaction, the director now owns 1,105 shares in the company, valued at $154,700. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthijs Glastra sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $160.06, for a total value of $3,201,200.00. Following the transaction, the chief executive officer now owns 86,558 shares in the company, valued at approximately $13,854,473.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,494 shares of company stock worth $7,081,963. Company insiders own 1.40% of the company’s stock.

Novanta Stock Up 1.5 %

NOVT stock opened at $152.97 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.58 and a quick ratio of 1.55. The stock has a market capitalization of $5.46 billion, a P/E ratio of 75.36 and a beta of 1.30. The business has a 50-day moving average of $147.81 and a 200-day moving average of $139.17. Novanta Inc. has a fifty-two week low of $110.84 and a fifty-two week high of $162.48.

Novanta (NASDAQ:NOVT – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.73 by $0.08. Novanta had a return on equity of 20.16% and a net margin of 8.62%. The firm had revenue of $222.96 million during the quarter, compared to analysts’ expectations of $215.01 million. On average, sell-side analysts anticipate that Novanta Inc. will post 3.01 earnings per share for the current fiscal year.

Novanta Company Profile

(Get Rating)

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.