Novanta Inc. (NASDAQ:NOVT) Stake Reduced by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership reduced its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 576,372 shares of the technology company’s stock after selling 85,129 shares during the quarter. Artisan Partners Limited Partnership owned about 1.61% of Novanta worth $97,067,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NOVT. First Horizon Advisors Inc. grew its stake in shares of Novanta by 67.5% in the fourth quarter. First Horizon Advisors Inc. now owns 211 shares of the technology company’s stock worth $36,000 after purchasing an additional 85 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Novanta by 1.4% in the third quarter. Arizona State Retirement System now owns 10,195 shares of the technology company’s stock worth $1,462,000 after purchasing an additional 139 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Novanta by 2.7% in the fourth quarter. Xponance Inc. now owns 5,271 shares of the technology company’s stock valued at $888,000 after buying an additional 140 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Novanta by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 44,850 shares of the technology company’s stock valued at $7,553,000 after buying an additional 140 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Novanta by 5.3% in the fourth quarter. Teacher Retirement System of Texas now owns 2,914 shares of the technology company’s stock valued at $491,000 after buying an additional 146 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Novanta Price Performance

Shares of Novanta stock traded down $1.71 during trading on Tuesday, hitting $162.75. The stock had a trading volume of 12,513 shares, compared to its average volume of 130,458. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.83 and a quick ratio of 1.77. The firm has a market cap of $5.84 billion, a P/E ratio of 85.21 and a beta of 1.35. The business has a fifty day moving average of $164.19 and a two-hundred day moving average of $160.62. Novanta Inc. has a fifty-two week low of $111.20 and a fifty-two week high of $187.60.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.17. The business had revenue of $230.92 million during the quarter, compared to analyst estimates of $227.85 million. Novanta had a return on equity of 16.58% and a net margin of 7.76%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, sell-side analysts expect that Novanta Inc. will post 3.26 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Robert Buckley sold 3,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $170.40, for a total transaction of $511,200.00. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $20,519,397.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Matthijs Glastra sold 5,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $172.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief executive officer now directly owns 24,572 shares of the company’s stock, valued at $4,226,384. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert Buckley sold 3,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $170.40, for a total value of $511,200.00. Following the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $20,519,397.60. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

About Novanta

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.