Quadrature Capital Ltd Invests $418,000 in Novanta Inc. (NASDAQ:NOVT)

Quadrature Capital Ltd purchased a new position in shares of Novanta Inc. (NASDAQ:NOVT – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,612 shares of the technology company’s stock, valued at approximately $418,000.

Several other large investors also recently bought and sold shares of the stock. Heritage Wealth Management LLC purchased a new position in Novanta during the 2nd quarter worth approximately $28,000. GHP Investment Advisors Inc. acquired a new stake in shares of Novanta in the third quarter valued at approximately $32,000. UBS Group AG grew its position in shares of Novanta by 85.7% during the third quarter. UBS Group AG now owns 544 shares of the technology company’s stock worth $63,000 after acquiring an additional 251 shares during the last quarter. Point72 Hong Kong Ltd increased its holdings in shares of Novanta by 350.6% in the 3rd quarter. Point72 Hong Kong Ltd now owns 793 shares of the technology company’s stock valued at $92,000 after acquiring an additional 617 shares during the period. Finally, Lazard Asset Management LLC raised its position in Novanta by 23.1% in the 1st quarter. Lazard Asset Management LLC now owns 976 shares of the technology company’s stock valued at $138,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 97.55% of the company’s stock.

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Novanta Stock Down 3.6 %

Shares of NASDAQ:NOVT opened at $143.91 on Friday. Novanta Inc. has a 1-year low of $110.84 and a 1-year high of $173.10. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 1.53. The stock has a market cap of $5.14 billion, a P/E ratio of 69.52 and a beta of 1.31. The firm has a fifty day moving average price of $154.26 and a 200 day moving average price of $143.01.

Novanta (NASDAQ:NOVT – Get Rating) last announced its earnings results on Wednesday, March 1st. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $218.37 million during the quarter, compared to analysts’ expectations of $215.57 million. Novanta had a net margin of 8.60% and a return on equity of 20.18%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. Sell-side analysts predict that Novanta Inc. will post 3.08 EPS for the current year.

Insider Buying and Selling at Novanta

In related news, CFO Robert Buckley sold 216 shares of the stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $140.18, for a total transaction of $30,278.88. Following the completion of the sale, the chief financial officer now directly owns 133,813 shares of the company’s stock, valued at $18,757,906.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Brian S. Young sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $170.93, for a total transaction of $1,025,580.00. Following the transaction, the insider now directly owns 33,539 shares in the company, valued at $5,732,821.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Buckley sold 216 shares of the firm’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $140.18, for a total transaction of $30,278.88. Following the completion of the sale, the chief financial officer now owns 133,813 shares of the company’s stock, valued at approximately $18,757,906.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,263 shares of company stock worth $3,597,807. 1.40% of the stock is currently owned by insiders.

Novanta Profile

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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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