Price T Rowe Associates Inc. MD Has $350.84 Million Holdings in Novanta Inc. (NASDAQ:NOVT)

Price T Rowe Associates Inc. MD increased its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 4.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,007,407 shares of the technology company’s stock after acquiring an additional 79,718 shares during the period. Price T Rowe Associates Inc. MD owned 0.06% of Novanta worth $350,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Novanta during the 1st quarter worth approximately $32,000. First Horizon Advisors Inc. lifted its stake in Novanta by 67.5% in the fourth quarter. First Horizon Advisors Inc. now owns 211 shares of the technology company’s stock valued at $36,000 after acquiring an additional 85 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Novanta during the 1st quarter worth about $52,000. YHB Investment Advisors Inc. bought a new stake in shares of Novanta in the 1st quarter valued at about $81,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Novanta in the 1st quarter valued at about $90,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Novanta news, Director Thomas N. Secor sold 1,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $158.60, for a total value of $158,600.00. Following the transaction, the director now directly owns 928 shares of the company’s stock, valued at approximately $147,180.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Novanta news, CFO Robert Buckley sold 1,830 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $161.09, for a total value 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 approximately $19,398,296.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas N. Secor sold 1,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $158.60, for a total transaction of $158,600.00. Following the transaction, the director now owns 928 shares in the company, valued at approximately $147,180.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,576 shares of company stock valued at $1,269,244. Company insiders own 1.20% of the company’s stock.

Novanta Stock Performance

NASDAQ NOVT traded up $2.76 during trading on Friday, reaching $185.16. 137,567 shares of the company’s stock were exchanged, compared to its average volume of 177,531. Novanta Inc. has a fifty-two week low of $111.20 and a fifty-two week high of $187.12. The stock has a market capitalization of $6.65 billion, a P/E ratio of 95.94 and a beta of 1.31. The business has a 50 day moving average price of $166.23 and a 200-day moving average price of $164.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.83 and a quick ratio of 1.77.

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