Norden Group LLC boosted its holdings in shares of Novanta Inc. (NASDAQ:NOVT – Free Report) by 2,287.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,211 shares of the technology company’s stock after buying an additional 40,443 shares during the quarter. Norden Group LLC’s holdings in Novanta were worth $7,377,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in Novanta during the 1st quarter worth approximately $32,000. First Horizon Advisors Inc. increased its holdings in shares of Novanta by 67.5% during the 4th quarter. First Horizon Advisors Inc. now owns 211 shares of the technology company’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Novanta by 62,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 629 shares of the technology company’s stock valued at $106,000 after purchasing an additional 628 shares in the last quarter. OneAscent Financial Services LLC purchased a new position in shares of Novanta during the 4th quarter valued at approximately $206,000. Finally, Revolve Wealth Partners LLC purchased a new position in shares of Novanta during the 4th quarter valued at approximately $206,000. 98.35% of the stock is owned by hedge funds and other institutional investors.
Novanta Price Performance
NASDAQ:NOVT opened at $160.29 on Friday. 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 cap of $5.75 billion, a price-to-earnings ratio of 83.05 and a beta of 1.31. The company has a 50 day moving average price of $162.22 and a 200-day moving average price of $163.49. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $185.80.
Insider Activity
In related news, CFO Robert Buckley sold 1,830 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $161.09, for a total value of $294,794.70. Following the completion of the sale, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $19,398,296.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Thomas N. Secor sold 1,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $158.60, for a total value of $158,600.00. Following the completion of the sale, the director now owns 928 shares of the company’s stock, valued at approximately $147,180.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert Buckley sold 1,830 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $161.09, for a total transaction of $294,794.70. Following the completion of the sale, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at approximately $19,398,296.71. The disclosure for this sale can be found here. Insiders sold a total of 3,916 shares of company stock valued at $628,067 in the last three months. 1.20% of the stock is currently owned by corporate insiders.
Novanta Company 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.
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