Truist Financial Corp trimmed its position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 68.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,659 shares of the technology company's stock after selling 7,920 shares during the quarter. Truist Financial Corp's holdings in Novanta were worth $616,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in NOVT. Vanguard Group Inc. grew its position in shares of Novanta by 0.6% in 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 position in shares of Novanta by 0.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,286,496 shares of the technology company's stock worth $216,659,000 after buying an additional 7,460 shares during the period. JPMorgan Chase & Co. increased its stake in Novanta by 12.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,203 shares of the technology company's stock worth $119,371,000 after buying an additional 92,243 shares during the period. Invesco Ltd. increased its holdings in Novanta by 11.8% during 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 during the period. Finally, Wellington Management Group LLP boosted its holdings in Novanta by 2.0% in the third quarter. Wellington Management Group LLP now owns 624,860 shares of the technology company's stock valued at $89,630,000 after purchasing an additional 12,140 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.
Novanta Stock Performance
NASDAQ NOVT traded down $1.55 on Friday, hitting $163.00. 94,788 shares of the company's stock were exchanged, compared to its average volume of 133,450. 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 $5.85 billion, a price-to-earnings ratio of 84.46 and a beta of 1.35. The firm's 50-day moving average price is $165.52 and its two-hundred day moving average price is $158.57. Novanta Inc. has a fifty-two week low of $111.20 and a fifty-two week high of $187.60.
Novanta (NASDAQ:NOVT - Get Free Report) last issued its earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share 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 company had revenue of $230.92 million for the quarter, compared to the consensus estimate of $227.85 million. During the same quarter in the prior year, the company earned $0.74 EPS. The firm's quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that Novanta Inc. will post 3.26 EPS for the current year.
Insider Buying and Selling at Novanta
In related news, CFO Robert Buckley sold 3,000 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 120,419 shares in the company, valued at $20,519,397.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Matthijs Glastra sold 5,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $172.00, for a total value of $860,000.00. Following the completion of the sale, the chief executive officer now directly owns 24,572 shares of the company's stock, valued at approximately $4,226,384. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Buckley sold 3,000 shares of Novanta stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $170.40, for a total transaction of $511,200.00. Following the sale, the chief financial officer now directly owns 120,419 shares of the company's stock, valued at $20,519,397.60. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.
About Novanta
(
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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