Allianz Asset Management GmbH Purchases 6,900 Shares of Novanta Inc. (NASDAQ:NOVT)

Allianz Asset Management GmbH raised its position in shares of Novanta Inc. (NASDAQ:NOVTFree Report) by 222.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the technology company’s stock after purchasing an additional 6,900 shares during the period. Allianz Asset Management GmbH’s holdings in Novanta were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Novanta by 0.6% during the third quarter. Vanguard Group Inc. now owns 3,766,008 shares of the technology company’s stock valued at $540,196,000 after purchasing an additional 22,294 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of Novanta by 0.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,286,496 shares of the technology company’s stock worth $216,659,000 after acquiring an additional 7,460 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Novanta by 12.5% in the third quarter. JPMorgan Chase & Co. now owns 832,203 shares of the technology company’s stock worth $119,371,000 after acquiring an additional 92,243 shares during the period. Geneva Capital Management LLC boosted its holdings in shares of Novanta by 9.3% in the fourth quarter. Geneva Capital Management LLC now owns 781,341 shares of the technology company’s stock worth $131,586,000 after acquiring an additional 66,633 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Novanta by 11.8% in the third quarter. Invesco Ltd. now owns 665,901 shares of the technology company’s stock worth $95,517,000 after acquiring an additional 70,369 shares during the period. 98.35% of the stock is owned by institutional investors.

Insider Activity at Novanta

In related news, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction on 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 sale, the chief executive officer now owns 24,572 shares of the company’s stock, valued at $4,226,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by corporate insiders.

Novanta Price Performance

Novanta stock opened at $160.93 on Monday. Novanta Inc. has a one year low of $111.20 and a one year high of $187.60. The business has a fifty day moving average price of $161.93 and a 200-day moving average price of $162.13. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.83 and a quick ratio of 1.77. The firm has a market capitalization of $5.78 billion, a P/E ratio of 83.38 and a beta of 1.34.

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

Novanta Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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