Novanta Inc. (NASDAQ:NOVT) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 1.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,010 shares of the technology company’s stock after selling 185 shares during the period. Arizona State Retirement System’s holdings in Novanta were worth $1,686,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOVT. Pacer Advisors Inc. grew its position in Novanta by 185.3% in the fourth quarter. Pacer Advisors Inc. now owns 8,629 shares of the technology company’s stock valued at $1,453,000 after acquiring an additional 5,604 shares in the last quarter. Portside Wealth Group LLC purchased a new position in shares of Novanta in the fourth quarter valued at $398,000. Yarbrough Capital LLC grew its holdings in Novanta by 85.0% during the 4th quarter. Yarbrough Capital LLC now owns 5,605 shares of the technology company’s stock valued at $944,000 after purchasing an additional 2,575 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in Novanta during the 4th quarter valued at $206,000. Finally, OneAscent Financial Services LLC purchased a new stake in Novanta during the 4th quarter worth $206,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Trading Down 2.7 %

NOVT opened at $163.00 on Friday. The stock has a market capitalization of $5.84 billion, a PE ratio of 80.30 and a beta of 1.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.98 and a quick ratio of 1.91. Novanta Inc. has a 12-month low of $111.20 and a 12-month high of $187.60. The firm’s fifty day moving average price is $167.76 and its 200 day moving average price is $155.42.

Novanta (NASDAQ:NOVT) last issued its earnings results on Wednesday, February 28th. The technology company reported $0.63 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.63. The business 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 company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. As a group, research analysts expect that Novanta Inc. will post 3.22 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CEO Matthijs Glastra sold 5,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 24,572 shares in the company, valued at approximately $4,226,384. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Matthijs Glastra sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $172.00, for a total value of $860,000.00. Following the transaction, the chief executive officer now directly owns 24,572 shares in the company, valued at approximately $4,226,384. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Buckley sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $170.40, for a total transaction of $511,200.00. Following the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $20,519,397.60. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock valued at $1,846,160 in the last quarter. 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.