GSA Capital Partners LLP Lowers Holdings in Novanta Inc. (NASDAQ:NOVT)

GSA Capital Partners LLP lowered its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 33.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,291 shares of the technology company's stock after selling 2,124 shares during the period. GSA Capital Partners LLP's holdings in Novanta were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC increased its position in shares of Novanta by 1.3% during the first quarter. Conestoga Capital Advisors LLC now owns 1,365,252 shares of the technology company's stock worth $174,575,000 after acquiring an additional 17,220 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Novanta by 69.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 680,169 shares of the technology company's stock worth $103,910,000 after acquiring an additional 279,793 shares in the last quarter. Northern Trust Corp increased its position in shares of Novanta by 14.0% during the fourth quarter. Northern Trust Corp now owns 487,688 shares of the technology company's stock worth $74,504,000 after acquiring an additional 59,986 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Novanta by 9.9% during the fourth quarter. Ameriprise Financial Inc. now owns 457,225 shares of the technology company's stock worth $69,850,000 after acquiring an additional 41,024 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Novanta by 4.0% during the first quarter. Bessemer Group Inc. now owns 151,430 shares of the technology company's stock worth $19,362,000 after acquiring an additional 5,818 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Novanta from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd.

Novanta Stock Up 1.4%

NASDAQ:NOVT traded up $1.61 on Friday, hitting $115.34. The stock had a trading volume of 174,021 shares, compared to its average volume of 281,233. Novanta Inc. has a 1 year low of $98.76 and a 1 year high of $186.75. The firm's fifty day simple moving average is $125.61 and its two-hundred day simple moving average is $129.44. The stock has a market cap of $4.15 billion, a P/E ratio of 68.09 and a beta of 1.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.70 and a current ratio of 2.54.

Novanta (NASDAQ:NOVT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.02. The company had revenue of $241.05 million during the quarter, compared to the consensus estimate of $237.97 million. Novanta had a return on equity of 14.70% and a net margin of 6.41%. Novanta's revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. Analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

Novanta Profile

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.