Geode Capital Management LLC Has $23.89 Million Position in Novanta Inc (NOVT)

Geode Capital Management LLC increased its holdings in Novanta Inc (NASDAQ:NOVT) by 11.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 379,215 shares of the technology company’s stock after acquiring an additional 37,821 shares during the period. Geode Capital Management LLC owned approximately 1.09% of Novanta worth $23,890,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc grew its position in Novanta by 36.3% in the third quarter. Vanguard Group Inc now owns 2,951,177 shares of the technology company’s stock worth $201,861,000 after acquiring an additional 785,554 shares during the period. Vanguard Group Inc. lifted its stake in Novanta by 36.3% during the third quarter. Vanguard Group Inc. now owns 2,951,177 shares of the technology company’s stock worth $201,861,000 after purchasing an additional 785,554 shares in the last quarter. BlackRock Inc. lifted its stake in Novanta by 3.7% during the fourth quarter. BlackRock Inc. now owns 2,273,355 shares of the technology company’s stock worth $143,221,000 after purchasing an additional 82,008 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Novanta by 29.2% during the third quarter. Neuberger Berman Group LLC now owns 1,762,519 shares of the technology company’s stock worth $120,556,000 after purchasing an additional 398,663 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Novanta by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,099,308 shares of the technology company’s stock worth $75,193,000 after purchasing an additional 36,832 shares in the last quarter. Institutional investors own 85.95% of the company’s stock.

NOVT has been the topic of a number of research reports. BidaskClub upgraded Novanta from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 2nd. Zacks Investment Research cut Novanta from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Finally, Robert W. Baird upped their price target on Novanta from $61.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, February 28th.

NASDAQ:NOVT opened at $86.17 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.70 and a current ratio of 2.70. Novanta Inc has a 52 week low of $50.40 and a 52 week high of $86.61. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 39.89 and a beta of 1.49.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Wednesday, February 27th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Novanta had a return on equity of 19.48% and a net margin of 7.99%. The company had revenue of $156.20 million for the quarter, compared to analysts’ expectations of $154.51 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Novanta Inc will post 2.35 EPS for the current fiscal year.

In other news, CAO Peter L. Chang sold 5,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $81.14, for a total value of $405,700.00. Following the sale, the chief accounting officer now directly owns 24,760 shares in the company, valued at $2,009,026.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.70% of the stock is currently owned by company insiders.

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About Novanta

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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