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.
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.
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