Norden Group LLC Invests $298,000 in Novanta Inc. (NASDAQ:NOVT)

Norden Group LLC purchased a new stake in Novanta Inc. (NASDAQ:NOVT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,768 shares of the technology company’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Retirement Systems of Alabama increased its stake in shares of Novanta by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 44,850 shares of the technology company’s stock valued at $7,553,000 after buying an additional 140 shares during the period. Alliance Wealth Advisors LLC UT purchased a new position in Novanta during the 4th quarter valued at about $217,000. Russell Investments Group Ltd. raised its holdings in shares of Novanta by 14.8% in the 4th quarter. Russell Investments Group Ltd. now owns 16,441 shares of the technology company’s stock valued at $2,769,000 after purchasing an additional 2,115 shares in the last quarter. Xponance Inc. lifted its position in shares of Novanta by 2.7% in the 4th quarter. Xponance Inc. now owns 5,271 shares of the technology company’s stock worth $888,000 after purchasing an additional 140 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in Novanta during the fourth quarter valued at approximately $2,026,000. Institutional investors own 98.35% of the company’s stock.

Insider Transactions at Novanta

In related news, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 24,572 shares in the company, valued at approximately $4,226,384. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Matthijs Glastra sold 5,000 shares of the company’s 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 transaction, 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 SEC, which is available through this hyperlink. Also, CFO Robert Buckley sold 3,000 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,500 shares of company stock worth $1,611,545. Insiders own 1.20% of the company’s stock.

Novanta Trading Up 0.2 %

Shares of NASDAQ NOVT opened at $156.78 on Thursday. Novanta Inc. has a 1-year low of $111.20 and a 1-year high of $187.60. The stock has a market capitalization of $5.62 billion, a P/E ratio of 77.23 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.98 and a quick ratio of 1.91. The business has a fifty day moving average price of $166.76 and a 200 day moving average price of $156.84.

Novanta (NASDAQ:NOVT) last announced its earnings results on Wednesday, February 28th. The technology company reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $211.60 million during the quarter, compared to the consensus estimate of $210.90 million. Novanta had a net margin of 8.27% and a return on equity of 17.15%. Novanta’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. Equities research analysts expect that Novanta Inc. will post 3.22 EPS 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.