Novanta Inc. (NASDAQ:NOVT) Shares Acquired by Geneva Capital Management LLC

Geneva Capital Management LLC lifted its stake in Novanta Inc. (NASDAQ:NOVT) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 781,341 shares of the technology company’s stock after purchasing an additional 66,633 shares during the period. Novanta comprises about 2.5% of Geneva Capital Management LLC’s holdings, making the stock its 6th largest holding. Geneva Capital Management LLC owned about 2.18% of Novanta worth $131,586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of NOVT. Portside Wealth Group LLC purchased a new position in Novanta in the fourth quarter valued at approximately $398,000. Invesco Ltd. boosted its stake 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. JPMorgan Chase & Co. raised its stake in shares of Novanta by 12.5% during the third 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Novanta by 15.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,111 shares of the technology company’s stock worth $1,020,000 after acquiring an additional 948 shares during the period. Finally, Clearbridge Investments LLC acquired a new position in Novanta during the third quarter worth about $25,374,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Activity

In other Novanta news, CFO Robert Buckley sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $170.40, for a total transaction of $511,200.00. Following the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at $20,519,397.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Robert Buckley sold 3,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $170.40, for a total value of $511,200.00. Following the sale, the chief financial officer now owns 120,419 shares in the company, valued at approximately $20,519,397.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthijs Glastra sold 5,000 shares of the firm’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 sale, the chief executive officer now directly owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Novanta Trading Up 2.0 %

Shares of NASDAQ NOVT traded up $3.20 during midday trading on Thursday, reaching $161.77. 132,511 shares of the stock were exchanged, compared to its average volume of 133,306. The company has a market capitalization of $5.80 billion, a P/E ratio of 83.82 and a beta of 1.35. The company has a current ratio of 2.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.52. Novanta Inc. has a 52-week low of $111.20 and a 52-week high of $187.60. The stock has a 50 day moving average price of $166.57 and a 200-day moving average price of $157.45.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.17. The company had revenue of $230.92 million during the quarter, compared to the consensus estimate of $227.85 million. Novanta had a return on equity of 17.15% and a net margin of 8.27%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. Equities research analysts expect that Novanta Inc. will post 3.22 earnings per share 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.