Swiss National Bank Acquires 4,600 Shares of Novanta Inc (NASDAQ:NOVT)

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Swiss National Bank raised its holdings in shares of Novanta Inc (NASDAQ:NOVT) by 7.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,000 shares of the technology company’s stock after acquiring an additional 4,600 shares during the quarter. Swiss National Bank owned approximately 0.19% of Novanta worth $6,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. bought a new position in shares of Novanta during the 2nd quarter worth approximately $151,000. Strs Ohio grew its stake in shares of Novanta by 340.0% in the first quarter. Strs Ohio now owns 2,200 shares of the technology company’s stock valued at $186,000 after buying an additional 1,700 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Novanta by 98.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 2,379 shares of the technology company’s stock valued at $202,000 after buying an additional 1,183 shares in the last quarter. BB&T Corp bought a new position in shares of Novanta in the first quarter valued at $227,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Novanta in the first quarter valued at $286,000. 86.55% of the stock is owned by institutional investors.

In other Novanta news, CEO Matthijs Glastra sold 30,100 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $93.21, for a total transaction of $2,805,621.00. Following the completion of the sale, the chief executive officer now owns 123,448 shares of the company’s stock, valued at approximately $11,506,588.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Buckley sold 16,277 shares of Novanta stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.06, for a total value of $1,482,183.62. Following the sale, the chief financial officer now directly owns 158,803 shares of the company’s stock, valued at approximately $14,460,601.18. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Shares of Novanta stock opened at $70.68 on Wednesday. The business has a fifty day simple moving average of $80.29 and a two-hundred day simple moving average of $83.05. Novanta Inc has a 1 year low of $55.68 and a 1 year high of $96.31. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 32.72 and a beta of 1.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.89 and a quick ratio of 1.74.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. Novanta had a return on equity of 19.49% and a net margin of 7.76%. The business had revenue of $155.10 million during the quarter, compared to the consensus estimate of $154.47 million. During the same quarter last year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities analysts anticipate that Novanta Inc will post 2.22 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the stock. BidaskClub cut shares of Novanta from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Zacks Investment Research cut shares of Novanta from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th.

Novanta Company Profile

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 laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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