Amalgamated Bank Sells 268 Shares of Novanta Inc. (NASDAQ:NOVT)

Amalgamated Bank cut its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,597 shares of the technology company’s stock after selling 268 shares during the quarter. Amalgamated Bank owned approximately 0.06% of Novanta worth $3,806,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NOVT. Portside Wealth Group LLC purchased a new position in shares of Novanta in the fourth quarter valued at about $398,000. Invesco Ltd. lifted its holdings in Novanta by 11.8% in the 3rd quarter. Invesco Ltd. now owns 665,901 shares of the technology company’s stock worth $95,517,000 after purchasing an additional 70,369 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Novanta by 12.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,203 shares of the technology company’s stock worth $119,371,000 after purchasing an additional 92,243 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 buying an additional 948 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new stake in shares of Novanta during the third quarter valued at approximately $25,374,000. 98.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Novanta Price Performance

Shares of NASDAQ:NOVT opened at $161.77 on Friday. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 83.82 and a beta of 1.35. The firm has a fifty day moving average price of $166.57 and a 200 day moving average price of $157.45. Novanta Inc. has a fifty-two week low of $111.20 and a fifty-two week high of $187.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.91 and a current ratio of 2.98.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.74 EPS for the quarter, topping 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 business had revenue of $230.92 million for the quarter, compared to analysts’ expectations of $227.85 million. During the same quarter in the previous year, the company earned $0.74 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Novanta Inc. will post 3.22 earnings per share for the current fiscal year.

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.