Nicolet Advisory Services LLC Takes $321,000 Position in Novanta Inc. (NASDAQ:NOVT)

Nicolet Advisory Services LLC acquired a new stake in shares of Novanta Inc. (NASDAQ:NOVT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,884 shares of the technology company’s stock, valued at approximately $321,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOVT. Vanguard Group Inc. grew its holdings in Novanta by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,815,479 shares of the technology company’s stock worth $642,565,000 after buying an additional 49,471 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in Novanta by 0.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,298,536 shares of the technology company’s stock worth $226,945,000 after buying an additional 12,040 shares in the last quarter. Wasatch Advisors LP grew its holdings in Novanta by 4.0% during the first quarter. Wasatch Advisors LP now owns 958,774 shares of the technology company’s stock worth $167,565,000 after buying an additional 37,238 shares in the last quarter. Geneva Capital Management LLC grew its holdings in Novanta by 9.3% during the fourth quarter. Geneva Capital Management LLC now owns 781,341 shares of the technology company’s stock worth $131,586,000 after buying an additional 66,633 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Novanta by 0.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 665,823 shares of the technology company’s stock worth $116,366,000 after buying an additional 3,226 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Novanta

In other Novanta news, CEO Matthijs Glastra sold 1,086 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $160.84, for a total value of $174,672.24. Following the completion of the transaction, the chief executive officer now owns 23,486 shares in the company, valued at approximately $3,777,488.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Robert Buckley sold 1,830 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $180.18, for a total transaction of $329,729.40. Following the transaction, the chief financial officer now owns 120,419 shares of the company’s stock, valued at approximately $21,697,095.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthijs Glastra sold 1,086 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $160.84, for a total value of $174,672.24. Following the transaction, the chief executive officer now directly owns 23,486 shares in the company, valued at approximately $3,777,488.24. The disclosure for this sale can be found here. Insiders sold 7,576 shares of company stock worth $1,269,244 in the last quarter. 1.20% of the stock is currently owned by company insiders.

Novanta Stock Down 3.5 %

Novanta stock traded down $6.22 during trading on Friday, hitting $172.49. 125,999 shares of the company were exchanged, compared to its average volume of 176,814. The company has a market capitalization of $6.19 billion, a P/E ratio of 89.37 and a beta of 1.31. The company has a current ratio of 2.83, a quick ratio of 1.77 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $164.49 and its 200 day moving average is $163.58. Novanta Inc. has a 52 week low of $111.20 and a 52 week high of $187.12.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17. The firm 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 16.58% and a net margin of 7.76%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. Analysts predict that Novanta Inc. will post 3.26 earnings per share for the current 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.