Mirae Asset Global Investments Co. Ltd. Buys 2,096 Shares of Novanta Inc. (NASDAQ:NOVT)

Mirae Asset Global Investments Co. Ltd. raised its stake in Novanta Inc. (NASDAQ:NOVT) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,926 shares of the technology company’s stock after acquiring an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Novanta were worth $5,545,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NOVT. Price T Rowe Associates Inc. MD lifted its position in shares of Novanta by 110.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 985,144 shares of the technology company’s stock worth $133,852,000 after purchasing an additional 517,824 shares in the last quarter. State Street Corp lifted its position in shares of Novanta by 56.2% in the third quarter. State Street Corp now owns 1,127,590 shares of the technology company’s stock worth $130,406,000 after purchasing an additional 405,731 shares in the last quarter. Norges Bank bought a new stake in shares of Novanta in the fourth quarter worth $46,718,000. Clearbridge Investments LLC acquired a new position in Novanta during the third quarter worth $25,374,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Novanta by 34.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 412,424 shares of the technology company’s stock worth $59,158,000 after buying an additional 104,537 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

Novanta Price Performance

NASDAQ:NOVT opened at $163.00 on Monday. Novanta Inc. has a one year low of $111.20 and a one year high of $187.60. The company has a market cap of $5.84 billion, a P/E ratio of 80.30 and a beta of 1.33. The firm’s fifty day moving average price is $167.88 and its two-hundred day moving average price is $155.69. 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 (NASDAQ:NOVT) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The firm had revenue of $211.60 million for the quarter, compared to the consensus estimate of $210.90 million. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts expect that Novanta Inc. will post 3.22 earnings per share for the current year.

Insider Activity at Novanta

In related news, CEO Matthijs Glastra sold 5,000 shares of the company’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 $4,226,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Matthijs Glastra sold 5,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $172.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief executive officer now owns 24,572 shares of the company’s stock, valued at $4,226,384. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Buckley sold 1,500 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $156.41, for a total transaction of $234,615.00. Following the completion of the transaction, the chief financial officer now directly owns 121,659 shares of the company’s stock, valued at approximately $19,028,684.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,000 shares of company stock worth $1,846,160. Corporate insiders own 1.20% of the company’s stock.

About Novanta

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.