New York State Teachers Retirement System Has $1.02 Million Stake in Novanta Inc. (NASDAQ:NOVT)

New York State Teachers Retirement System lowered its stake in Novanta Inc. (NASDAQ:NOVT) by 1.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,676 shares of the technology company’s stock after selling 100 shares during the period. New York State Teachers Retirement System’s holdings in Novanta were worth $1,016,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in shares of Novanta by 33.1% in the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after acquiring an additional 59 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in Novanta during the third quarter valued at approximately $49,000. Headlands Technologies LLC bought a new position in shares of Novanta in the first quarter valued at approximately $52,000. nVerses Capital LLC acquired a new stake in shares of Novanta in the third quarter worth $54,000. Finally, Signaturefd LLC boosted its holdings in shares of Novanta by 38.3% during the 2nd quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after buying an additional 100 shares during the period. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their target price on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating on the stock in a report on Wednesday.

Novanta Price Performance

Shares of NASDAQ:NOVT opened at $182.65 on Friday. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 109.37 and a beta of 1.29. The business has a 50 day moving average price of $174.21 and a 200 day moving average price of $170.13. The company has a quick ratio of 1.73, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. Novanta Inc. has a twelve month low of $120.19 and a twelve month high of $187.12.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The company had revenue of $244.40 million during the quarter, compared to analysts’ expectations of $242.33 million. During the same period in the prior year, the business earned $0.85 earnings per share. Novanta’s revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

Insider Transactions at Novanta

In related news, CFO Robert Buckley sold 1,111 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $180.45, for a total value of $200,479.95. Following the completion of the sale, the chief financial officer now owns 120,419 shares in the company, valued at approximately $21,729,608.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 9,150 shares of company stock worth $1,608,936. 1.20% of the stock is currently owned by company insiders.

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.