New York State Common Retirement Fund Decreases Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

New York State Common Retirement Fund trimmed its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,081 shares of the technology company's stock after selling 10,847 shares during the quarter. New York State Common Retirement Fund owned about 0.34% of Novanta worth $20,391,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NOVT. Clearbridge Investments LLC bought a new stake in Novanta during the third quarter worth approximately $25,374,000. Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 104,537 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Novanta by 12.5% during the third quarter. JPMorgan Chase & Co. now owns 832,203 shares of the technology company's stock worth $119,371,000 after acquiring an additional 92,243 shares during the last quarter. Invesco Ltd. increased its stake in Novanta by 11.8% during the third quarter. Invesco Ltd. now owns 665,901 shares of the technology company's stock worth $95,517,000 after acquiring an additional 70,369 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Novanta by 21.7% during the third quarter. Blair William & Co. IL now owns 308,961 shares of the technology company's stock worth $44,317,000 after acquiring an additional 54,995 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Novanta Trading Up 2.0 %

NASDAQ NOVT traded up $3.16 during trading hours on Friday, hitting $159.41. 118,492 shares of the company were exchanged, compared to its average volume of 123,361. The stock has a 50-day moving average price of $166.87 and a 200 day moving average price of $156.69. The company has a quick ratio of 1.91, a current ratio of 2.98 and a debt-to-equity ratio of 0.52. Novanta Inc. has a 52 week low of $111.20 and a 52 week high of $187.60. The stock has a market cap of $5.71 billion, a PE ratio of 78.53 and a beta of 1.33.

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

Insider Activity

In other news, CEO Matthijs Glastra sold 5,000 shares of the company's 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 transaction, 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 legal filing with the SEC, which is available at this link. In other news, CEO Matthijs Glastra sold 5,000 shares of the company's 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 transaction, 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 legal filing with the SEC, which is available at this link. Also, CFO Robert Buckley sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $170.40, for a total value of $511,200.00. Following the completion of the sale, the chief financial officer now owns 120,419 shares of the company's stock, valued at approximately $20,519,397.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,000 shares of company stock valued at $1,846,160. 1.20% of the stock is currently owned by 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.