Handelsbanken Fonder AB Has $1.51 Million Stock Position in Novanta Inc. (NASDAQ:NOVT)

Handelsbanken Fonder AB increased its position in shares of Novanta Inc. (NASDAQ:NOVT) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,411 shares of the technology company’s stock after acquiring an additional 600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Novanta were worth $1,505,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in Novanta in the 1st quarter worth approximately $32,000. Headlands Technologies LLC purchased a new stake in shares of Novanta in the first quarter valued at $52,000. Signaturefd LLC boosted its position in shares of Novanta by 38.3% in the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after buying an additional 100 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Novanta during the first quarter valued at $90,000. Finally, Van ECK Associates Corp raised its position in Novanta by 47.6% during the second quarter. Van ECK Associates Corp now owns 750 shares of the technology company’s stock valued at $122,000 after buying an additional 242 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Stock Down 2.4 %

Novanta stock opened at $170.74 on Friday. Novanta Inc. has a twelve month low of $111.20 and a twelve month high of $187.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77. The firm has a market cap of $6.13 billion, a PE ratio of 88.47 and a beta of 1.28. The firm’s 50 day moving average price is $174.59 and its two-hundred day moving average price is $168.62.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.69 by $0.04. Novanta had a net margin of 6.91% and a return on equity of 15.77%. The business had revenue of $235.86 million for the quarter, compared to analysts’ expectations of $233.63 million. During the same period in the previous year, the company posted $0.80 EPS. Novanta’s revenue was up 2.8% on a year-over-year basis. On average, research analysts predict that Novanta Inc. will post 3.3 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Robert W. Baird raised their price objective on Novanta from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th.

Insiders Place Their Bets

In related news, CFO Robert Buckley sold 4,108 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $172.75, for a total value of $709,657.00. Following the completion of the sale, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $20,802,382.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 15,088 shares of company stock valued at $2,648,323 in the last three months. Insiders own 1.20% of the company’s stock.

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.