First Horizon Advisors Inc. Grows Holdings in Novanta Inc. (NASDAQ:NOVT)

First Horizon Advisors Inc. lifted its position in shares of Novanta Inc. (NASDAQ:NOVT) by 67.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211 shares of the technology company’s stock after acquiring an additional 85 shares during the quarter. First Horizon Advisors Inc.’s holdings in Novanta were worth $36,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Raymond James & Associates boosted its position in Novanta by 2.9% during the third quarter. Raymond James & Associates now owns 48,628 shares of the technology company’s stock worth $6,975,000 after purchasing an additional 1,369 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Novanta by 15.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,111 shares of the technology company’s stock valued at $1,020,000 after acquiring an additional 948 shares during the period. Advisor Partners II LLC purchased a new stake in Novanta in the 3rd quarter worth $441,000. Conestoga Capital Advisors LLC raised its position in Novanta by 1.1% during the third quarter. Conestoga Capital Advisors LLC now owns 1,279,036 shares of the technology company’s stock worth $183,465,000 after acquiring an additional 14,285 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in Novanta by 16.7% during the third quarter. Fifth Third Bancorp now owns 721 shares of the technology company’s stock valued at $103,000 after purchasing an additional 103 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Novanta news, CFO Robert Buckley sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $170.40, for a total value of $511,200.00. Following the transaction, the chief financial officer now owns 120,419 shares of the company’s stock, valued at $20,519,397.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Matthijs Glastra sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $172.00, for a total transaction of $860,000.00. Following the completion of the transaction, the chief executive officer now directly owns 24,572 shares in the company, valued at approximately $4,226,384. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Buckley sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $170.40, for a total transaction of $511,200.00. Following the sale, the chief financial officer now owns 120,419 shares in the company, valued at $20,519,397.60. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Novanta Stock Down 2.0 %

NOVT stock opened at $158.57 on Thursday. The stock has a market capitalization of $5.68 billion, a P/E ratio of 78.11 and a beta of 1.35. Novanta Inc. has a 52 week low of $111.20 and a 52 week high of $187.60. The firm has a 50-day simple moving average of $166.79 and a 200-day simple moving average of $157.42. The company has a quick ratio of 1.91, a current ratio of 2.98 and a debt-to-equity ratio of 0.52.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.17. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The company 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 business posted $0.74 EPS. Novanta’s revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Novanta Inc. will post 3.22 earnings per share for the current fiscal year.

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.