Wells Fargo & Company MN cut its position in shares of Novanta Inc (NASDAQ:NOVT) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,835,185 shares of the technology company’s stock after selling 395,194 shares during the quarter. Wells Fargo & Company MN owned about 5.31% of Novanta worth $80,014,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Thompson Davis & CO. Inc. increased its stake in Novanta by 1,500.0% during the second quarter. Thompson Davis & CO. Inc. now owns 4,000 shares of the technology company’s stock worth $144,000 after acquiring an additional 3,750 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Novanta by 2,150.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,073 shares of the technology company’s stock worth $147,000 after acquiring an additional 3,892 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Novanta by 19.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,822 shares of the technology company’s stock worth $210,000 after acquiring an additional 938 shares during the last quarter. Wade G W & Inc. acquired a new stake in shares of Novanta in the third quarter valued at about $217,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Novanta in the second quarter valued at about $238,000. Institutional investors own 79.01% of the company’s stock.
Shares of Novanta Inc (NASDAQ:NOVT) opened at $44.50 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.93 and a debt-to-equity ratio of 0.76. Novanta Inc has a 12 month low of $20.05 and a 12 month high of $55.10. The stock has a market capitalization of $1,534.16, a PE ratio of 29.18 and a beta of 1.27.
In other news, Director Stephen W. Bershad sold 500,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $52.55, for a total value of $26,275,000.00. Following the completion of the sale, the director now owns 1,711,648 shares in the company, valued at $89,947,102.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.30% of the stock is currently owned by company insiders.
Separately, BidaskClub lowered Novanta from a “strong-buy” rating to a “buy” rating in a research note on Saturday.
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Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.
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