GW&K Investment Management LLC Sells 10,957 Shares of Novanta Inc. (NASDAQ:NOVT)

GW&K Investment Management LLC decreased its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. boosted its position in Novanta by 5.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,687 shares of the technology company's stock worth $258,000 after purchasing an additional 90 shares during the period. State of Michigan Retirement System raised its stake in Novanta by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company's stock worth $1,100,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Novanta by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the technology company's stock worth $1,291,000 after acquiring an additional 100 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Novanta by 2.6% during the first quarter. State of Alaska Department of Revenue now owns 4,201 shares of the technology company's stock worth $537,000 after acquiring an additional 105 shares in the last quarter. Finally, State of Wyoming raised its stake in Novanta by 4.4% during the fourth quarter. State of Wyoming now owns 2,536 shares of the technology company's stock worth $387,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

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

Novanta Price Performance

Shares of NASDAQ:NOVT traded down $0.30 during midday trading on Monday, reaching $122.66. The company's stock had a trading volume of 227,025 shares, compared to its average volume of 225,483. Novanta Inc. has a fifty-two week low of $98.76 and a fifty-two week high of $187.00. The company has a market capitalization of $4.41 billion, a P/E ratio of 62.58 and a beta of 1.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.56 and a quick ratio of 1.70. The business's fifty day simple moving average is $126.66 and its 200-day simple moving average is $131.66.

Novanta (NASDAQ:NOVT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.74 earnings per share (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 firm had revenue of $233.37 million for the quarter, compared to analysts' expectations of $233.34 million. During the same quarter last year, the business earned $0.74 earnings per share. The company's revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Novanta Inc. will post 3.03 EPS for the current fiscal 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.