California Public Employees Retirement System Has $914,000 Holdings in Novanta Inc. (NOVT)

California Public Employees Retirement System raised its position in shares of Novanta Inc. (NASDAQ:NOVT) by 13.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,400 shares of the technology company’s stock after purchasing an additional 3,100 shares during the quarter. California Public Employees Retirement System owned 0.07% of Novanta worth $914,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Legal & General Group Plc lifted its holdings in Novanta by 4.8% during the second quarter. Legal & General Group Plc now owns 7,646 shares of the technology company’s stock valued at $275,000 after purchasing an additional 353 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Novanta by 1.5% during the second quarter. Alliancebernstein L.P. now owns 42,600 shares of the technology company’s stock valued at $1,534,000 after purchasing an additional 610 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Novanta by 0.4% during the second quarter. TIAA CREF Investment Management LLC now owns 150,894 shares of the technology company’s stock valued at $5,432,000 after purchasing an additional 642 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Novanta by 19.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,822 shares of the technology company’s stock valued at $210,000 after purchasing an additional 938 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Novanta by 17.6% during the second quarter. Victory Capital Management Inc. now owns 6,843 shares of the technology company’s stock valued at $246,000 after purchasing an additional 1,024 shares in the last quarter. 77.97% of the stock is currently owned by institutional investors and hedge funds.

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Novanta Inc. (NASDAQ NOVT) opened at $52.90 on Tuesday. The company has a current ratio of 2.93, a quick ratio of 2.00 and a debt-to-equity ratio of 0.76. Novanta Inc. has a 1-year low of $18.25 and a 1-year high of $53.95. The firm has a market cap of $1,800.52, a P/E ratio of 34.24 and a beta of 1.29.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. Novanta had a net margin of 12.45% and a return on equity of 18.29%. The business had revenue of $146.30 million for the quarter, compared to the consensus estimate of $132.10 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 49.5% on a year-over-year basis. equities research analysts forecast that Novanta Inc. will post 1.56 EPS for the current fiscal year.

Novanta Company Profile

Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.

Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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