First Horizon Advisors Inc. Purchases 85 Shares of Novanta Inc. (NASDAQ:NOVT)

First Horizon Advisors Inc. boosted its position in shares of Novanta Inc. (NASDAQ:NOVT) by 67.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 211 shares of the technology company’s stock after buying an additional 85 shares during the period. First Horizon Advisors Inc.’s holdings in Novanta were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new stake in shares of Novanta during the 3rd quarter worth approximately $34,000. Fifth Third Bancorp increased its position in Novanta by 16.7% in the third quarter. Fifth Third Bancorp now owns 721 shares of the technology company’s stock worth $103,000 after purchasing an additional 103 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Novanta during the fourth quarter valued at $206,000. OneAscent Financial Services LLC purchased a new stake in Novanta during the fourth quarter valued at $206,000. Finally, Alliance Wealth Advisors LLC UT bought a new position in Novanta during the fourth quarter valued at $217,000. 98.35% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Matthijs Glastra sold 5,000 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 24,572 shares in the company, valued at $4,226,384. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Matthijs Glastra sold 5,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $172.00, for a total transaction of $860,000.00. Following the transaction, the chief executive officer now directly owns 24,572 shares in the company, valued at approximately $4,226,384. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Buckley sold 3,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 120,419 shares in the company, valued at $20,519,397.60. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Novanta Stock Performance

Shares of NASDAQ:NOVT opened at $158.57 on Thursday. The firm has a fifty day simple moving average of $166.79 and a two-hundred day simple moving average of $157.42. Novanta Inc. has a 52 week low of $111.20 and a 52 week high of $187.60. The company has a quick ratio of 1.91, a current ratio of 2.98 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $5.68 billion, a P/E ratio of 78.11 and a beta of 1.35.

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