Novanta Inc. (NASDAQ:NOVT) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. cut its position in shares of Novanta Inc. (NASDAQ:NOVT) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,179 shares of the technology company’s stock after selling 403 shares during the quarter. Zions Bancorporation N.A.’s holdings in Novanta were worth $1,823,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Novanta by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,861,416 shares of the technology company’s stock worth $674,860,000 after buying an additional 45,937 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Novanta by 299.9% during the fourth quarter. Wells Fargo & Company MN now owns 61,912 shares of the technology company’s stock worth $10,427,000 after purchasing an additional 46,430 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Novanta by 75.3% during the fourth quarter. Clearbridge Investments LLC now owns 310,032 shares of the technology company’s stock valued at $52,212,000 after purchasing an additional 133,138 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Novanta in the 1st quarter valued at $780,000. Finally, Allianz Asset Management GmbH increased its stake in Novanta by 222.6% in the 4th quarter. Allianz Asset Management GmbH now owns 10,000 shares of the technology company’s stock worth $1,684,000 after purchasing an additional 6,900 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird lifted their target price on shares of Novanta from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th.

Insider Transactions at Novanta

In related news, CEO Matthijs Glastra sold 1,086 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $160.84, for a total value of $174,672.24. Following the completion of the sale, the chief executive officer now directly owns 23,486 shares in the company, valued at $3,777,488.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Novanta news, CEO Matthijs Glastra sold 1,086 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $160.84, for a total transaction of $174,672.24. Following the transaction, the chief executive officer now owns 23,486 shares in the company, valued at $3,777,488.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Buckley sold 1,830 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $161.09, for a total transaction of $294,794.70. Following the completion of the sale, the chief financial officer now owns 120,419 shares of the company’s stock, valued at $19,398,296.71. The disclosure for this sale can be found here. Insiders have sold a total of 15,063 shares of company stock worth $2,591,881 in the last 90 days. 1.20% of the stock is owned by insiders.

Novanta Stock Performance

NOVT stock opened at $171.12 on Friday. Novanta Inc. has a 52 week low of $111.20 and a 52 week high of $187.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.73 and a current ratio of 2.77. The stock has a market cap of $6.14 billion, a P/E ratio of 88.66 and a beta of 1.29. The firm has a 50 day simple moving average of $174.97 and a 200 day simple moving average of $168.40.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $235.86 million for the quarter, compared to the consensus estimate of $233.63 million. Novanta had a net margin of 6.91% and a return on equity of 15.77%. Novanta’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. Research analysts anticipate that Novanta Inc. will post 3.3 earnings per share for the current fiscal 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.