New York State Common Retirement Fund increased its stake in shares of Novanta Inc. (NASDAQ:NOVT – Free Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,320 shares of the technology company’s stock after buying an additional 700 shares during the quarter. New York State Common Retirement Fund owned about 0.25% of Novanta worth $13,645,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in NOVT. Sanctuary Advisors LLC purchased a new stake in Novanta during the 3rd quarter valued at about $232,000. KBC Group NV boosted its position in Novanta by 41.6% in the fourth quarter. KBC Group NV now owns 1,500 shares of the technology company’s stock valued at $229,000 after buying an additional 441 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Novanta by 4.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company’s stock worth $18,419,000 after buying an additional 4,648 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Novanta by 110.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company’s stock worth $17,938,000 after buying an additional 52,573 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Novanta by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,390 shares of the technology company’s stock valued at $78,616,000 after acquiring an additional 4,271 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.
Novanta Stock Performance
Shares of NOVT stock opened at $140.51 on Monday. The stock has a market cap of $5.05 billion, a PE ratio of 84.14 and a beta of 1.28. Novanta Inc. has a 52-week low of $139.78 and a 52-week high of $187.12. The business has a 50-day simple moving average of $150.14 and a 200-day simple moving average of $165.22. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61.
Wall Street Analyst Weigh In
Check Out Our Latest Report on NOVT
About Novanta
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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