Zions Bancorporation N.A. Has $2.10 Million Stock Position in Novanta Inc. (NASDAQ:NOVT)

Zions Bancorporation N.A. raised its stake in Novanta Inc. (NASDAQ:NOVT) by 4.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,725 shares of the technology company’s stock after buying an additional 546 shares during the period. Zions Bancorporation N.A.’s holdings in Novanta were worth $2,098,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Novanta by 11.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,671 shares of the technology company’s stock worth $292,000 after purchasing an additional 178 shares during the period. Headlands Technologies LLC acquired a new position in shares of Novanta during the first quarter worth $52,000. ProShare Advisors LLC lifted its holdings in shares of Novanta by 4.6% during the first quarter. ProShare Advisors LLC now owns 8,270 shares of the technology company’s stock worth $1,445,000 after purchasing an additional 361 shares during the period. Nicolet Advisory Services LLC acquired a new position in shares of Novanta during the first quarter worth $321,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Novanta by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after purchasing an additional 45,937 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Price Performance

NOVT stock opened at $169.71 on Friday. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 101.62 and a beta of 1.29. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. Novanta Inc. has a 12-month low of $136.36 and a 12-month high of $187.12. The company’s fifty day simple moving average is $174.07 and its 200 day simple moving average is $170.48.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, November 5th. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $244.40 million for the quarter, compared to analyst estimates of $242.33 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. Novanta’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. On average, analysts expect that Novanta Inc. will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price target on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th.

Insider Activity at Novanta

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.70, for a total value of $1,347,750.00. Following the completion of the sale, the chief executive officer now directly owns 56,382 shares of the company’s stock, valued at approximately $10,131,845.40. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Buckley sold 1,111 shares of Novanta stock in a transaction on Friday, September 27th. The shares were sold at an average price of $180.45, for a total transaction of $200,479.95. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $21,729,608.55. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,650 shares of company stock worth $2,956,686 over the last quarter. Company insiders own 1.20% of the company’s stock.

About Novanta

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.