Daiwa Securities Group Inc. Purchases Shares of 12,029 Novanta Inc. (NASDAQ:NOVT)

Daiwa Securities Group Inc. purchased a new stake in Novanta Inc. (NASDAQ:NOVT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,029 shares of the technology company’s stock, valued at approximately $2,026,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOVT. Operose Advisors LLC acquired a new stake in shares of Novanta in the 3rd quarter valued at about $34,000. Fifth Third Bancorp raised its stake in shares of Novanta by 16.7% in the 3rd quarter. Fifth Third Bancorp now owns 721 shares of the technology company’s stock valued at $103,000 after purchasing an additional 103 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Novanta in the 4th quarter valued at about $206,000. OneAscent Financial Services LLC acquired a new stake in shares of Novanta in the 4th quarter valued at about $206,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Novanta in the 3rd quarter valued at about $221,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Price Performance

Shares of NASDAQ NOVT opened at $153.11 on Tuesday. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 75.42 and a beta of 1.33. The business has a 50-day moving average of $167.00 and a 200-day moving average of $156.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.98 and a quick ratio of 1.91. 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 Wednesday, February 28th. The technology company reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $211.60 million during the quarter, compared to analysts’ expectations of $210.90 million. Novanta had a return on equity of 17.15% and a net margin of 8.27%. Novanta’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. As a group, sell-side analysts predict that Novanta Inc. will post 3.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, TheStreet upgraded Novanta from a “c+” rating to a “b-” rating in a report on Thursday, December 28th.

Insider Buying and Selling

In related news, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction dated 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 transaction, the chief executive officer now owns 24,572 shares in the company, valued at $4,226,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Robert Buckley sold 3,000 shares of Novanta stock in a transaction dated 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 transaction, the chief financial officer now owns 120,419 shares in the company, valued at $20,519,397.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $172.00, for a total value of $860,000.00. Following the transaction, the chief executive officer now owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,000 shares of company stock worth $1,846,160. Company insiders own 1.20% of the company’s stock.

Novanta Company Profile

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.