Bessemer Group Inc. Invests $151,000 in Novanta Inc (NASDAQ:NOVT)

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Bessemer Group Inc. purchased a new position in shares of Novanta Inc (NASDAQ:NOVT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,600 shares of the technology company’s stock, valued at approximately $151,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Strs Ohio grew its stake in shares of Novanta by 340.0% in the 1st quarter. Strs Ohio now owns 2,200 shares of the technology company’s stock valued at $186,000 after buying an additional 1,700 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Novanta during the 4th quarter worth approximately $202,000. Oppenheimer Asset Management Inc. boosted its position in shares of Novanta by 98.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,379 shares of the technology company’s stock worth $202,000 after purchasing an additional 1,183 shares during the period. BB&T Corp purchased a new position in shares of Novanta during the 1st quarter worth approximately $227,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Novanta during the 1st quarter worth approximately $286,000. 87.16% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Robert Buckley sold 16,277 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $91.06, for a total value of $1,482,183.62. Following the completion of the transaction, the chief financial officer now owns 158,803 shares of the company’s stock, valued at $14,460,601.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Matthijs Glastra sold 30,100 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $93.21, for a total transaction of $2,805,621.00. Following the transaction, the chief executive officer now directly owns 123,448 shares of the company’s stock, valued at approximately $11,506,588.08. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.

Shares of NASDAQ:NOVT opened at $72.09 on Friday. The firm has a market capitalization of $2.53 billion, a P/E ratio of 33.38 and a beta of 1.49. The company’s fifty day moving average price is $84.77 and its 200 day moving average price is $83.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.89 and a quick ratio of 1.74. Novanta Inc has a 12 month low of $55.68 and a 12 month high of $96.31.

Novanta (NASDAQ:NOVT) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.54 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. The business had revenue of $155.10 million for the quarter, compared to the consensus estimate of $154.47 million. Novanta had a net margin of 7.76% and a return on equity of 19.49%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, sell-side analysts anticipate that Novanta Inc will post 2.22 EPS for the current year.

Several equities analysts have commented on NOVT shares. Zacks Investment Research cut shares of Novanta from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. BidaskClub cut shares of Novanta from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th.

Novanta Profile

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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