Xponance Inc. Has $888,000 Position in Novanta Inc. (NASDAQ:NOVT)

Xponance Inc. lifted its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 2.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,271 shares of the technology company’s stock after acquiring an additional 140 shares during the period. Xponance Inc.’s holdings in Novanta were worth $888,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Portside Wealth Group LLC acquired a new position in shares of Novanta during the 4th quarter valued at $398,000. Invesco Ltd. lifted its position in shares of Novanta by 11.8% during the 3rd quarter. Invesco Ltd. now owns 665,901 shares of the technology company’s stock valued at $95,517,000 after acquiring an additional 70,369 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Novanta by 12.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,203 shares of the technology company’s stock valued at $119,371,000 after acquiring an additional 92,243 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Novanta by 15.4% during 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. Finally, Clearbridge Investments LLC acquired a new position in shares of Novanta during the 3rd quarter valued at $25,374,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Stock Performance

NOVT opened at $156.25 on Friday. The company has a current ratio of 2.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $166.90 and its two-hundred day moving average price is $156.46. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $187.60. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 76.97 and a beta of 1.33.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. Novanta had a net margin of 8.27% and a return on equity of 17.15%. The firm had revenue of $211.60 million for the quarter, compared to the consensus estimate of $210.90 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, analysts expect that Novanta Inc. will post 3.22 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, TheStreet upgraded shares of Novanta from a “c+” rating to a “b-” rating in a report on Thursday, December 28th.

Insider Activity at Novanta

In related news, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The shares were 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 owns 24,572 shares in the company, valued at $4,226,384. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Novanta news, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The shares were 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 owns 24,572 shares in the company, valued at $4,226,384. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Buckley sold 1,500 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $160.23, for a total transaction of $240,345.00. Following the transaction, the chief financial officer now owns 120,159 shares of the company’s stock, valued at approximately $19,253,076.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,000 shares of company stock worth $1,846,160. 1.20% of the stock is owned by company insiders.

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.