EAM Investors LLC lowered its stake in Novanta Inc (NASDAQ:NOVT) by 9.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,270 shares of the technology company’s stock after selling 5,730 shares during the period. EAM Investors LLC’s holdings in Novanta were worth $3,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its position in Novanta by 2,010.2% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,102 shares of the technology company’s stock valued at $158,000 after purchasing an additional 2,955 shares in the last quarter. Advisory Services Network LLC raised its position in Novanta by 430.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,650 shares of the technology company’s stock valued at $182,000 after purchasing an additional 2,150 shares in the last quarter. Quantbot Technologies LP raised its position in Novanta by 91.7% in the 1st quarter. Quantbot Technologies LP now owns 3,806 shares of the technology company’s stock valued at $198,000 after purchasing an additional 1,821 shares in the last quarter. Bradley Foster & Sargent Inc. CT acquired a new stake in Novanta in the 1st quarter valued at about $201,000. Finally, SG Americas Securities LLC acquired a new stake in Novanta in the 1st quarter valued at about $216,000. 84.28% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on NOVT shares. BidaskClub lowered Novanta from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research raised Novanta from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Friday, May 11th. Finally, Robert W. Baird lowered Novanta from an “outperform” rating to a “neutral” rating and set a $54.00 price target on the stock. in a research report on Wednesday, May 9th.
Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Novanta had a return on equity of 20.02% and a net margin of 5.14%. The business had revenue of $150.40 million for the quarter, compared to the consensus estimate of $147.26 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. research analysts expect that Novanta Inc will post 1.99 earnings per share for the current year.
Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.
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