Victory Capital Management Inc. Decreases Stock Position in Novanta Inc. (NASDAQ:NOVT)

Victory Capital Management Inc. lessened its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,632 shares of the technology company’s stock after selling 218 shares during the period. Victory Capital Management Inc.’s holdings in Novanta were worth $716,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NOVT. Citigroup Inc. raised its holdings in Novanta by 5.3% during the 2nd quarter. Citigroup Inc. now owns 5,977 shares of the technology company’s stock valued at $805,000 after buying an additional 300 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Novanta by 53.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,896 shares of the technology company’s stock valued at $1,334,000 after buying an additional 3,455 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in Novanta by 2.4% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 22,581 shares of the technology company’s stock valued at $3,043,000 after buying an additional 537 shares during the period. Susquehanna International Group LLP increased its stake in Novanta by 9,311.6% in the second quarter. Susquehanna International Group LLP now owns 8,751 shares of the technology company’s stock worth $1,179,000 after purchasing an additional 8,846 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in Novanta in the second quarter worth $241,000. Institutional investors own 92.62% of the company’s stock.

In other news, CEO Matthijs Glastra sold 15,000 shares of the stock in a transaction on Monday, December 13th. The stock was sold at an average price of $166.82, for a total transaction of $2,502,300.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

NOVT stock opened at $155.29 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. The business’s fifty day simple moving average is $167.78 and its two-hundred day simple moving average is $154.89. Novanta Inc. has a twelve month low of $118.73 and a twelve month high of $184.44. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 112.53 and a beta of 1.00.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, November 9th. The technology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.15. Novanta had a return on equity of 18.21% and a net margin of 7.51%. The business had revenue of $177.73 million for the quarter, compared to analyst estimates of $172.06 million. During the same quarter last year, the firm posted $0.42 earnings per share. The business’s revenue was up 24.3% compared to the same quarter last year. Research analysts expect that Novanta Inc. will post 2.58 EPS for the current year.

Separately, Zacks Investment Research lowered Novanta from a “buy” rating to a “hold” rating in a research note on Wednesday.

Novanta Profile

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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