Novanta Inc. (NASDAQ:NOVT) Shares Purchased by Wasatch Advisors LP

Wasatch Advisors LP grew its position in shares of Novanta Inc. (NASDAQ:NOVT) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 958,774 shares of the technology company’s stock after acquiring an additional 37,238 shares during the quarter. Wasatch Advisors LP owned about 2.67% of Novanta worth $167,565,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of Novanta during the first quarter valued at $32,000. First Horizon Advisors Inc. increased its stake in 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 buying an additional 85 shares during the period. TFO Wealth Partners LLC increased its stake in 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 buying an additional 628 shares during the period. OneAscent Financial Services LLC bought a new stake in shares of Novanta during the 4th quarter worth about $206,000. Finally, Revolve Wealth Partners LLC acquired a new stake in shares of Novanta in the 4th quarter worth approximately $206,000. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling

In other Novanta 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 transaction of $158,600.00. Following the sale, the director now directly owns 928 shares of the company’s stock, valued at approximately $147,180.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Novanta Price Performance

NASDAQ NOVT traded up $2.50 on Tuesday, reaching $160.29. 89,160 shares of the stock traded hands, compared to its average volume of 131,412. Novanta Inc. has a 12 month low of $111.20 and a 12 month high of $185.80. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 83.05 and a beta of 1.31. The firm’s fifty day simple moving average is $162.09 and its 200 day simple moving average is $163.53. The company has a quick ratio of 1.77, a current ratio of 2.83 and a debt-to-equity ratio of 0.75.

Novanta (NASDAQ:NOVT) last released its earnings results on Tuesday, May 7th. The technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. Novanta had a net margin of 7.76% and a return on equity of 16.58%. The business had revenue of $230.92 million for the quarter, compared to the consensus estimate of $227.85 million. During the same period in the previous year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts predict that Novanta Inc. will post 3.26 EPS for the current fiscal year.

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.