4,461 Shares in Novanta Inc. (NASDAQ:NOVT) Bought by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Novanta Inc. (NASDAQ:NOVT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,461 shares of the technology company’s stock, valued at approximately $780,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NOVT. Vanguard Group Inc. boosted its holdings in shares of Novanta by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,815,479 shares of the technology company’s stock valued at $642,565,000 after purchasing an additional 49,471 shares during the period. Conestoga Capital Advisors LLC lifted its position in Novanta by 0.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,298,536 shares of the technology company’s stock worth $226,945,000 after acquiring an additional 12,040 shares during the period. Wasatch Advisors LP boosted its position in Novanta by 4.0% in the first quarter. Wasatch Advisors LP now owns 958,774 shares of the technology company’s stock valued at $167,565,000 after buying an additional 37,238 shares during the last quarter. Geneva Capital Management LLC increased its stake 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, Allspring Global Investments Holdings LLC raised its stake in shares of Novanta by 0.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 665,823 shares of the technology company’s stock valued at $116,366,000 after buying an additional 3,226 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Stock Performance

NOVT stock traded up $2.50 during midday trading on Monday, hitting $174.32. 72,176 shares of the stock traded hands, compared to its average volume of 132,791. The stock’s fifty day simple moving average is $162.73 and its 200-day simple moving average is $163.19. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.83 and a quick ratio of 1.77. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $185.80. The firm has a market cap of $6.26 billion, a P/E ratio of 89.03 and a beta of 1.31.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.74 EPS for the quarter, beating 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 business had revenue of $230.92 million during the quarter, compared to analysts’ expectations of $227.85 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. On average, analysts expect that Novanta Inc. will post 3.26 earnings per share for the current year.

Insider Buying and Selling at Novanta

In related news, CEO Matthijs Glastra sold 1,086 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $160.84, for a total value of $174,672.24. Following the sale, the chief executive officer now owns 23,486 shares of the company’s stock, valued at $3,777,488.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Robert Buckley sold 1,830 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $161.09, for a total transaction of $294,794.70. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares of the company’s stock, valued at $19,398,296.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthijs Glastra sold 1,086 shares of the business’s 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 sale, the chief executive officer now owns 23,486 shares in the company, valued at $3,777,488.24. The disclosure for this sale can be found here. Insiders sold a total of 3,916 shares of company stock worth $628,067 over the last three months. 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.