Goldman Sachs Group Inc. Cuts Holdings in Novanta Inc. (NASDAQ:NOVT)

Goldman Sachs Group Inc. cut its holdings in Novanta Inc. (NASDAQ:NOVT) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,080 shares of the technology company’s stock after selling 20,838 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Novanta were worth $58,283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in Novanta during the fourth quarter worth about $62,186,000. Clearbridge Investments LLC purchased a new stake in shares of Novanta during the 3rd quarter worth approximately $25,374,000. Public Employees Retirement Association of Colorado increased its position in shares of Novanta by 475.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 170,575 shares of the technology company’s stock valued at $28,727,000 after buying an additional 140,931 shares in the last quarter. JPMorgan Chase & Co. raised its position 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. Finally, Invesco Ltd. raised its position in shares of Novanta by 11.8% during the 3rd quarter. Invesco Ltd. now owns 665,901 shares of the technology company’s stock worth $95,517,000 after purchasing an additional 70,369 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Transactions at Novanta

In related news, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction dated 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 directly owns 24,572 shares in the company, valued at $4,226,384. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Matthijs Glastra sold 5,000 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 24,572 shares in the company, valued at $4,226,384. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas N. Secor sold 1,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $158.60, for a total transaction of $158,600.00. Following the transaction, the director now directly owns 928 shares in the company, valued at approximately $147,180.80. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Novanta Stock Up 0.7 %

Shares of NASDAQ:NOVT opened at $165.50 on Wednesday. Novanta Inc. has a 52-week low of $111.20 and a 52-week high of $187.60. The company has a market capitalization of $5.94 billion, a P/E ratio of 85.75 and a beta of 1.34. The stock’s fifty day simple moving average is $161.09 and its 200-day simple moving average is $163.02. The company has a quick ratio of 1.77, a current ratio of 2.83 and a debt-to-equity ratio of 0.75.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.17. The business had revenue of $230.92 million for the quarter, compared to the consensus estimate of $227.85 million. Novanta had a net margin of 7.76% and a return on equity of 16.58%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. As a group, equities research analysts forecast that Novanta Inc. will post 3.26 earnings per share for the current fiscal year.

Novanta Company 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.