Eqis Capital Management Inc. boosted its position in Novanta Inc. (NASDAQ:NOVT) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,053 shares of the technology company’s stock after buying an additional 139 shares during the quarter. Eqis Capital Management Inc.’s holdings in Novanta were worth $532,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of NOVT. Harvest Fund Management Co. Ltd boosted its holdings in Novanta by 118.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 958 shares of the technology company’s stock valued at $106,000 after purchasing an additional 519 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Novanta by 211.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,105 shares of the technology company’s stock worth $116,000 after acquiring an additional 750 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Novanta by 37.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,370 shares of the technology company’s stock worth $146,000 after acquiring an additional 370 shares during the period. Virtu Financial LLC bought a new position in shares of Novanta during the 2nd quarter worth about $204,000. Finally, Balyasny Asset Management LLC bought a new position in shares of Novanta during the 2nd quarter worth about $209,000. Institutional investors and hedge funds own 89.05% of the company’s stock.
Shares of NOVT stock opened at $116.22 on Friday. Novanta Inc. has a 12-month low of $66.44 and a 12-month high of $127.91. The company has a market capitalization of $4.09 billion, a P/E ratio of 98.49 and a beta of 1.17. The firm has a 50-day moving average price of $113.75 and a 200 day moving average price of $105.88. The company has a quick ratio of 1.57, a current ratio of 2.40 and a debt-to-equity ratio of 0.49.
A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Novanta from a “buy” rating to a “hold” rating in a report on Tuesday, October 6th. Berenberg Bank assumed coverage on shares of Novanta in a report on Friday, November 13th. They set a “hold” rating and a $109.00 price objective for the company. BidaskClub raised shares of Novanta from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. Finally, TheStreet downgraded shares of Novanta from a “b” rating to a “c+” rating in a report on Tuesday, September 8th. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $108.67.
In other Novanta news, CFO Robert Buckley sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $115.08, for a total value of $460,320.00. Following the completion of the sale, the chief financial officer now owns 152,681 shares in the company, valued at approximately $17,570,529.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthijs Glastra sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $114.92, for a total transaction of $574,600.00. Following the completion of the sale, the chief executive officer now owns 104,237 shares of the company’s stock, valued at approximately $11,978,916.04. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock valued at $1,606,320 over the last three months. 3.60% of the stock is currently owned by insiders.
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. Its Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products for photonics-based applications, such as industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
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