Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Novanta Inc. (NASDAQ:NOVT)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Novanta Inc. (NASDAQ:NOVT) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,852 shares of the technology company’s stock after acquiring an additional 741 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Novanta were worth $1,322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Portside Wealth Group LLC acquired a new stake in shares of Novanta in the fourth quarter valued at about $398,000. Invesco Ltd. boosted its position in 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 purchasing an additional 70,369 shares during the period. JPMorgan Chase & Co. boosted its position in 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 purchasing an additional 92,243 shares during the period. Clearbridge Investments LLC acquired a new position in Novanta during the 3rd quarter valued at approximately $25,374,000. Finally, Advisor Partners II LLC acquired a new position in Novanta during the 3rd quarter valued at approximately $441,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Novanta

In related news, CFO Robert Buckley sold 1,500 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $156.41, for a total transaction of $234,615.00. Following the transaction, the chief financial officer now directly owns 121,659 shares of the company’s stock, valued at $19,028,684.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Robert Buckley sold 1,500 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $156.41, for a total transaction of $234,615.00. Following the transaction, the chief financial officer now directly owns 121,659 shares of the company’s stock, valued at $19,028,684.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the chief executive officer now owns 24,572 shares in the company, valued at approximately $4,226,384. The disclosure for this sale can be found here. Insiders have sold 11,000 shares of company stock valued at $1,846,160 over the last three months. Company insiders own 1.20% of the company’s stock.

Novanta Trading Up 2.0 %

Shares of NOVT stock opened at $159.41 on Friday. 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 Inc. has a 1 year low of $111.20 and a 1 year high of $187.60. The stock has a fifty day moving average of $166.87 and a two-hundred day moving average of $156.57. The firm has a market capitalization of $5.71 billion, a PE ratio of 78.53 and a beta of 1.33.

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

Novanta 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.