Zions Bancorporation N.A. Has $2.10 Million Stock Position in Novanta Inc. (NASDAQ:NOVT)

Zions Bancorporation N.A. boosted its position in Novanta Inc. (NASDAQ:NOVT) by 4.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,725 shares of the technology company’s stock after purchasing an additional 546 shares during the period. Zions Bancorporation N.A.’s holdings in Novanta were worth $2,098,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Novanta by 33.1% in the 3rd quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after purchasing an additional 59 shares during the last quarter. Essex Investment Management Co. LLC lifted its position in Novanta by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 23,379 shares of the technology company’s stock worth $4,183,000 after acquiring an additional 80 shares during the last quarter. Bank of Montreal Can lifted its position in Novanta by 2.6% during the second quarter. Bank of Montreal Can now owns 3,598 shares of the technology company’s stock worth $599,000 after acquiring an additional 90 shares during the last quarter. Victory Capital Management Inc. lifted its position in Novanta by 1.3% during the second quarter. Victory Capital Management Inc. now owns 7,526 shares of the technology company’s stock worth $1,228,000 after acquiring an additional 99 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Novanta by 38.3% during the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after acquiring an additional 100 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Novanta

In related news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.70, for a total value of $1,347,750.00. Following the transaction, the chief executive officer now directly owns 56,382 shares of the company’s stock, valued at $10,131,845.40. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Buckley sold 3,660 shares of Novanta stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $174.01, for a total transaction of $636,876.60. Following the completion of the transaction, the chief financial officer now directly owns 120,419 shares in the company, valued at $20,954,110.19. This trade represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,650 shares of company stock valued at $2,956,686 over the last three months. 1.20% of the stock is owned by insiders.

Novanta Trading Down 0.3 %

Shares of NOVT stock opened at $169.71 on Friday. Novanta Inc. has a 12-month low of $136.36 and a 12-month high of $187.12. The firm has a 50 day moving average price of $174.07 and a two-hundred day moving average price of $170.48. The company has a market capitalization of $6.10 billion, a PE ratio of 101.62 and a beta of 1.29. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company had revenue of $244.40 million for the quarter, compared to analysts’ expectations of $242.33 million. During the same period last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut their price objective on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

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.