Rhumbline Advisers Sells 3,934 Shares of Novanta Inc. $NOVT

Rhumbline Advisers lowered its position in Novanta Inc. (NASDAQ:NOVT) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 113,851 shares of the technology company’s stock after selling 3,934 shares during the period. Rhumbline Advisers owned about 0.32% of Novanta worth $11,402,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Arizona State Retirement System lifted its position in shares of Novanta by 1.6% in the third quarter. Arizona State Retirement System now owns 10,632 shares of the technology company’s stock valued at $1,065,000 after acquiring an additional 171 shares in the last quarter. Huntington National Bank grew its position in shares of Novanta by 65.7% during the second quarter. Huntington National Bank now owns 492 shares of the technology company’s stock worth $63,000 after purchasing an additional 195 shares in the last quarter. M&T Bank Corp raised its stake in Novanta by 6.6% during the 2nd quarter. M&T Bank Corp now owns 3,785 shares of the technology company’s stock valued at $488,000 after purchasing an additional 236 shares during the period. Retirement Systems of Alabama lifted its holdings in Novanta by 0.6% in the 2nd quarter. Retirement Systems of Alabama now owns 43,964 shares of the technology company’s stock worth $5,668,000 after purchasing an additional 244 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in Novanta by 11.2% in the 2nd quarter. Atria Investments Inc now owns 3,031 shares of the technology company’s stock worth $391,000 after purchasing an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

NOVT has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 20th. Zacks Research upgraded shares of Novanta from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $133.00.

Novanta Stock Performance

NASDAQ:NOVT opened at $144.93 on Friday. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 98.59 and a beta of 1.62. Novanta Inc. has a 1 year low of $98.27 and a 1 year high of $153.20. The stock’s 50 day simple moving average is $131.15 and its two-hundred day simple moving average is $119.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.51 and a quick ratio of 1.54.

Insiders Place Their Bets

In other news, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $145.04, for a total value of $1,087,800.00. Following the sale, the chief executive officer directly owned 57,367 shares in the company, valued at $8,320,509.68. The trade was a 11.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Buckley sold 1,423 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $140.14, for a total transaction of $199,419.22. Following the sale, the chief financial officer owned 91,034 shares in the company, valued at $12,757,504.76. This represents a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,923 shares of company stock valued at $3,182,264 over the last three months. Corporate insiders own 1.20% of the company’s stock.

About Novanta

Novanta, Inc (NASDAQ: NOVT) is a global technology company that designs and manufactures precision components, subsystems and software used in advanced photonics and motion control applications. The company serves customers in the medical device and advanced industrial markets, supplying critical technologies for diagnostics and therapeutic systems, semiconductor and electronics manufacturing, and scientific instrumentation. Novanta’s product portfolio includes laser control modules, optics, beam delivery systems, high-precision motors, actuators, stages, and fluidics solutions designed to meet stringent accuracy and reliability requirements.

Novanta’s Photonics segment delivers laser and energy delivery components that enable minimally invasive surgical procedures and diagnostic imaging.