10,100 Shares in Novanta Inc. (NASDAQ:NOVT) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,100 shares of the technology company's stock, valued at approximately $1,701,000.

Several other institutional investors also recently bought and sold shares of NOVT. American Century Companies Inc. increased its stake in shares of Novanta by 4.7% in the third quarter. American Century Companies Inc. now owns 1,555 shares of the technology company's stock worth $223,000 after purchasing an additional 70 shares during the period. Metropolitan Life Insurance Co NY increased its stake in shares of Novanta by 3.4% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,185 shares of the technology company's stock worth $297,000 after purchasing an additional 72 shares during the period. Prudential Financial Inc. increased its stake in shares of Novanta by 2.0% in the first quarter. Prudential Financial Inc. now owns 3,903 shares of the technology company's stock worth $468,000 after purchasing an additional 77 shares during the period. Truist Financial Corp increased its stake in shares of Novanta by 0.7% in the fourth quarter. Truist Financial Corp now owns 11,154 shares of the technology company's stock worth $1,515,000 after purchasing an additional 83 shares during the period. Finally, Harbor Investment Advisory LLC increased its stake in shares of Novanta by 15.6% in the third quarter. Harbor Investment Advisory LLC now owns 645 shares of the technology company's stock worth $93,000 after purchasing an additional 87 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Novanta Stock Performance

NOVT traded down $0.61 on Friday, hitting $149.41. 161,045 shares of the stock traded hands, compared to its average volume of 119,864. Novanta Inc. has a 52 week low of $111.20 and a 52 week high of $187.60. The company has a current ratio of 2.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5.36 billion, a PE ratio of 73.60 and a beta of 1.33. The business has a fifty day moving average price of $167.26 and a two-hundred day moving average price of $156.17.

Novanta (NASDAQ:NOVT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. Novanta had a return on equity of 17.15% and a net margin of 8.27%. The firm had revenue of $211.60 million for the quarter, compared to analyst estimates of $210.90 million. During the same period in the previous year, the company posted $0.75 earnings per share. The company's quarterly revenue was down 3.1% compared to the same quarter last year. On average, research analysts predict that Novanta Inc. will post 3.22 EPS for the current fiscal year.

Insider Buying and Selling at Novanta

In other Novanta news, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $172.00, for a total transaction of $860,000.00. Following the sale, the chief executive officer now directly 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 can be accessed through the SEC website. In other Novanta news, CFO Robert Buckley sold 1,500 shares of Novanta stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $160.23, for a total transaction of $240,345.00. Following the sale, the chief financial officer now directly owns 120,159 shares of the company's stock, valued at $19,253,076.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $172.00, for a total value of $860,000.00. Following the sale, the chief executive officer now directly owns 24,572 shares in the company, valued at $4,226,384. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,000 shares of company stock valued at $1,846,160. 1.20% of the stock is currently owned by corporate insiders.

Novanta 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.