Novanta Inc (NOVT) Shares Sold by NWQ Investment Management Company LLC

NWQ Investment Management Company LLC decreased its position in shares of Novanta Inc (NASDAQ:NOVT) by 33.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 796,671 shares of the technology company’s stock after selling 404,780 shares during the period. NWQ Investment Management Company LLC owned about 2.30% of Novanta worth $34,735,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NOVT. Thompson Davis & CO. Inc. grew its stake in shares of Novanta by 1,500.0% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 4,000 shares of the technology company’s stock worth $144,000 after buying an additional 3,750 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Novanta by 2,150.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,073 shares of the technology company’s stock worth $147,000 after buying an additional 3,892 shares during the last quarter. Wade G W & Inc. purchased a new stake in shares of Novanta in the 3rd quarter worth approximately $217,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Novanta by 19.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,822 shares of the technology company’s stock worth $210,000 after buying an additional 938 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Novanta in the 3rd quarter worth approximately $269,000. Hedge funds and other institutional investors own 79.01% of the company’s stock.

Shares of Novanta Inc (NASDAQ:NOVT) opened at $44.80 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.93 and a quick ratio of 2.00. The firm has a market capitalization of $1,539.35, a P/E ratio of 29.28 and a beta of 1.27. Novanta Inc has a 52 week low of $20.13 and a 52 week high of $55.10.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. The company had revenue of $146.30 million for the quarter, compared to the consensus estimate of $132.10 million. Novanta had a return on equity of 18.29% and a net margin of 12.45%. The firm’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 EPS. analysts forecast that Novanta Inc will post 1.56 earnings per share for the current fiscal year.

In other Novanta news, Director Stephen W. Bershad sold 500,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $52.55, for a total transaction of $26,275,000.00. Following the sale, the director now directly owns 1,711,648 shares in the company, valued at approximately $89,947,102.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.30% of the company’s stock.

Separately, BidaskClub downgraded Novanta from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd.

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Novanta Company Profile

Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.

Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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