Bank of New York Mellon Corp boosted its position in Novanta Inc. (NASDAQ:NOVT – Get Rating) by 130.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 361,354 shares of the technology company’s stock after purchasing an additional 204,681 shares during the period. Bank of New York Mellon Corp owned about 1.01% of Novanta worth $41,791,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of NOVT. BlackRock Inc. lifted its position in shares of Novanta by 59.4% during the third quarter. BlackRock Inc. now owns 4,076,115 shares of the technology company’s stock worth $471,404,000 after acquiring an additional 1,518,242 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Novanta by 4.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,041,600 shares of the technology company’s stock worth $120,459,000 after buying an additional 47,352 shares during the period. Capital International Investors lifted its holdings in Novanta by 0.4% in the first quarter. Capital International Investors now owns 1,015,687 shares of the technology company’s stock worth $144,522,000 after buying an additional 4,500 shares during the period. State Street Corp lifted its holdings in shares of Novanta by 1.4% during the second quarter. State Street Corp now owns 721,859 shares of the technology company’s stock valued at $87,540,000 after purchasing an additional 9,679 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Novanta by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 661,397 shares of the technology company’s stock valued at $76,494,000 after purchasing an additional 3,830 shares during the last quarter. Hedge funds and other institutional investors own 97.55% of the company’s stock.
Insider Activity
In related news, insider Brian S. Young sold 6,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 33,539 shares of the company’s stock, valued at $5,732,821.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Matthijs Glastra sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $145.94, for a total transaction of $948,610.00. Following the completion of the sale, the chief executive officer now owns 93,754 shares of the company’s stock, valued at $13,682,458.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian S. Young sold 6,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 33,539 shares of the company’s stock, valued at approximately $5,732,821.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,263 shares of company stock worth $3,597,807. Insiders own 1.40% of the company’s stock.
Novanta Price Performance
Novanta (NASDAQ:NOVT – Get Rating) last released its earnings results on Wednesday, March 1st. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. Novanta had a net margin of 8.60% and a return on equity of 20.18%. The firm had revenue of $218.37 million during the quarter, compared to analyst estimates of $215.57 million. During the same period last year, the business earned $0.67 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Novanta Inc. will post 3.08 EPS for the current fiscal year.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Novanta (NOVT)
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