OneAscent Wealth Management LLC purchased a new position in Novanta Inc. (NASDAQ:NOVT) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,297 shares of the technology company’s stock, valued at approximately $272,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd increased its stake in Novanta by 118.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 958 shares of the technology company’s stock worth $106,000 after purchasing an additional 519 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Novanta by 211.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,105 shares of the technology company’s stock worth $116,000 after acquiring an additional 750 shares during the period. Teacher Retirement System of Texas acquired a new stake in Novanta during the 3rd quarter worth about $212,000. OneAscent Financial Services LLC acquired a new stake in Novanta during the 3rd quarter worth about $227,000. Finally, Independent Advisor Alliance acquired a new stake in Novanta during the 3rd quarter worth about $256,000. 90.22% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Brian S. Young sold 6,741 shares of Novanta stock in a transaction dated Monday, December 28th. The stock was sold at an average price of $120.40, for a total transaction of $811,616.40. Following the completion of the sale, the insider now directly owns 13,901 shares in the company, valued at approximately $1,673,680.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.60% of the stock is owned by insiders.
Shares of NASDAQ NOVT opened at $141.99 on Friday. Novanta Inc. has a one year low of $66.44 and a one year high of $146.16. The firm has a market capitalization of $4.99 billion, a PE ratio of 122.41 and a beta of 1.09. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $131.23 and a two-hundred day moving average price of $117.29.
Separately, Berenberg Bank began coverage on Novanta in a research report on Friday, November 13th. They set a “hold” rating and a $109.00 price objective for the company. Four analysts have rated the stock with a hold rating, Novanta has a consensus rating of “Hold” and an average target price of $108.67.
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. Its Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products for photonics-based applications, such as industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
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