Novanta Inc. (NASDAQ:NOVT) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC lessened its holdings in Novanta Inc. (NASDAQ:NOVT - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 335,711 shares of the technology company's stock after selling 10,957 shares during the quarter. GW&K Investment Management LLC owned about 0.93% of Novanta worth $42,927,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOVT. Parallel Advisors LLC grew its stake in shares of Novanta by 1,426.7% during the 1st quarter. Parallel Advisors LLC now owns 229 shares of the technology company's stock worth $29,000 after purchasing an additional 214 shares during the period. Johnson Financial Group Inc. lifted its holdings in Novanta by 482.1% in the 4th quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock valued at $49,000 after purchasing an additional 270 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Novanta by 146.0% during the 1st quarter. GAMMA Investing LLC now owns 401 shares of the technology company's stock worth $51,000 after acquiring an additional 238 shares during the period. CWM LLC raised its holdings in shares of Novanta by 329.8% during the 1st quarter. CWM LLC now owns 404 shares of the technology company's stock worth $52,000 after acquiring an additional 310 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Novanta by 80.0% during the 1st quarter. Signaturefd LLC now owns 414 shares of the technology company's stock worth $53,000 after acquiring an additional 184 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.

Novanta Trading Down 1.5%

NASDAQ NOVT traded down $1.90 during trading on Thursday, hitting $124.62. The stock had a trading volume of 57,595 shares, compared to its average volume of 273,213. The company has a market capitalization of $4.48 billion, a PE ratio of 63.58 and a beta of 1.45. The company has a quick ratio of 1.70, a current ratio of 2.56 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average price of $126.39 and a 200 day moving average price of $131.57. Novanta Inc. has a twelve month low of $98.76 and a twelve month high of $187.00.

Novanta (NASDAQ:NOVT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.06. Novanta had a return on equity of 15.06% and a net margin of 7.42%. The business had revenue of $233.37 million during the quarter, compared to the consensus estimate of $233.34 million. During the same period in the previous year, the company posted $0.74 earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Novanta from a "hold" rating to a "buy" rating in a report on Friday, June 6th.

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.