Alliance Wealth Advisors LLC UT Makes New Investment in Novanta Inc. (NASDAQ:NOVT)

Alliance Wealth Advisors LLC UT purchased a new position in shares of Novanta Inc. (NASDAQ:NOVT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,287 shares of the technology company’s stock, valued at approximately $217,000.

Other hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB grew its position in Novanta by 21.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,611 shares of the technology company’s stock valued at $948,000 after buying an additional 1,160 shares during the last quarter. Raymond James & Associates lifted its holdings in Novanta by 2.9% in the third quarter. Raymond James & Associates now owns 48,628 shares of the technology company’s stock valued at $6,975,000 after acquiring an additional 1,369 shares during the period. Independent Advisor Alliance lifted its holdings in Novanta by 4.5% in the third quarter. Independent Advisor Alliance now owns 3,944 shares of the technology company’s stock valued at $566,000 after acquiring an additional 170 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Novanta by 15.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,111 shares of the technology company’s stock valued at $1,020,000 after acquiring an additional 948 shares during the period. Finally, Advisor Partners II LLC acquired a new stake in Novanta in the third quarter valued at $441,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Price Performance

Novanta stock opened at $159.41 on Monday. Novanta Inc. has a one year low of $111.20 and a one year high of $187.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.91 and a current ratio of 2.98. The business has a fifty day moving average of $166.87 and a two-hundred day moving average of $156.69. The company has a market cap of $5.71 billion, a P/E ratio of 78.53 and a beta of 1.33.

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

Insider Transactions at Novanta

In other news, CEO Matthijs Glastra sold 5,000 shares of Novanta stock in a transaction on Monday, April 1st. The stock was sold at an average price of $172.00, for a total transaction of $860,000.00. Following the completion of the transaction, the chief executive officer now owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Matthijs Glastra sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 24,572 shares of the company’s stock, valued at approximately $4,226,384. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Buckley sold 1,500 shares of Novanta stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $160.23, for a total value of $240,345.00. Following the completion of the sale, the chief financial officer now owns 120,159 shares of the company’s stock, valued at approximately $19,253,076.57. The disclosure for this sale can be found here. Insiders sold 11,000 shares of company stock valued at $1,846,160 in the last 90 days. 1.20% of the stock is currently owned by insiders.

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.