Novanta Inc. (NASDAQ:NOVT) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD grew its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 4.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,007,407 shares of the technology company’s stock after acquiring an additional 79,718 shares during the quarter. Price T Rowe Associates Inc. MD owned about 5.59% of Novanta worth $350,836,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NOVT. Pacer Advisors Inc. lifted its holdings in Novanta by 185.3% in the fourth quarter. Pacer Advisors Inc. now owns 8,629 shares of the technology company’s stock worth $1,453,000 after purchasing an additional 5,604 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Novanta by 6.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,926 shares of the technology company’s stock valued at $5,545,000 after acquiring an additional 2,096 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of Novanta by 0.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,286,496 shares of the technology company’s stock valued at $216,659,000 after acquiring an additional 7,460 shares during the period. Louisiana State Employees Retirement System bought a new stake in Novanta during the fourth quarter worth approximately $1,701,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Novanta by 10.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,852 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 741 shares during the period. Institutional investors own 98.35% of the company’s stock.

Novanta Price Performance

NASDAQ NOVT traded up $2.76 on Friday, reaching $185.16. 137,567 shares of the stock traded hands, compared to its average volume of 177,531. Novanta Inc. has a 12 month low of $111.20 and a 12 month high of $187.12. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 95.94 and a beta of 1.31. The firm’s fifty day simple moving average is $166.23 and its 200 day simple moving average is $164.51. The company has a quick ratio of 1.77, a current ratio of 2.83 and a debt-to-equity ratio of 0.75.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. Novanta had a return on equity of 16.58% and a net margin of 7.76%. The firm had revenue of $230.92 million for the quarter, compared to analyst estimates of $227.85 million. During the same period in the previous year, the company earned $0.74 earnings per share. Novanta’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Novanta Inc. will post 3.26 EPS for the current fiscal year.

Insider Buying and Selling

In other Novanta news, CFO Robert Buckley sold 1,830 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $180.18, for a total value of $329,729.40. Following the transaction, the chief financial officer now owns 120,419 shares of the company’s stock, valued at $21,697,095.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Matthijs Glastra sold 1,086 shares of Novanta stock in a transaction on Monday, July 1st. The stock was sold at an average price of $160.84, for a total transaction of $174,672.24. Following the transaction, the chief executive officer now owns 23,486 shares in the company, valued at $3,777,488.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Buckley sold 1,830 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $180.18, for a total value of $329,729.40. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $21,697,095.42. The disclosure for this sale can be found here. Insiders have sold 7,576 shares of company stock worth $1,269,244 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Novanta 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.