Anderson Hoagland & Co. Lowers Stock Holdings in Novanta Inc (NASDAQ:NOVT)

Anderson Hoagland & Co. trimmed its position in Novanta Inc (NASDAQ:NOVT) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,748 shares of the technology company’s stock after selling 1,899 shares during the quarter. Novanta makes up approximately 1.1% of Anderson Hoagland & Co.’s portfolio, making the stock its 24th biggest holding. Anderson Hoagland & Co. owned approximately 0.06% of Novanta worth $1,740,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Strs Ohio raised its stake in Novanta by 340.0% in the first quarter. Strs Ohio now owns 2,200 shares of the technology company’s stock valued at $186,000 after purchasing an additional 1,700 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Novanta during the fourth quarter valued at approximately $202,000. Oppenheimer Asset Management Inc. grew its position in Novanta by 98.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 2,379 shares of the technology company’s stock valued at $202,000 after acquiring an additional 1,183 shares during the last quarter. BB&T Corp bought a new position in Novanta during the first quarter valued at approximately $227,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Novanta during the first quarter valued at approximately $286,000. 87.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Novanta stock traded down $0.56 on Tuesday, hitting $86.64. The stock had a trading volume of 124,163 shares, compared to its average volume of 148,643. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.78 and a current ratio of 2.83. Novanta Inc has a one year low of $55.68 and a one year high of $96.31. The firm has a market cap of $2.96 billion, a PE ratio of 40.11 and a beta of 1.53. The firm has a 50-day moving average of $88.25.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The business had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $155.85 million. Novanta had a net margin of 7.92% and a return on equity of 19.26%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 earnings per share. On average, equities analysts anticipate that Novanta Inc will post 2.41 EPS for the current fiscal year.

NOVT has been the topic of a number of recent research reports. BidaskClub cut shares of Zebra Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th.

In other Novanta news, CFO Robert Buckley sold 16,277 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.06, for a total transaction of $1,482,183.62. Following the completion of the transaction, the chief financial officer now owns 158,803 shares of the company’s stock, valued at $14,460,601.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthijs Glastra sold 30,100 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $93.21, for a total value of $2,805,621.00. Following the transaction, the chief executive officer now directly owns 123,448 shares of the company’s stock, valued at approximately $11,506,588.08. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Novanta Company Profile

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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