Jane Street Group LLC Sells 32,690 Shares of Novanta Inc. (NASDAQ:NOVT)

Jane Street Group LLC lessened its stake in Novanta Inc. (NASDAQ:NOVT - Free Report) by 90.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,309 shares of the technology company's stock after selling 32,690 shares during the quarter. Jane Street Group LLC's holdings in Novanta were worth $506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NOVT. Empowered Funds LLC acquired a new position in Novanta in the fourth quarter valued at about $26,000. Johnson Financial Group Inc. grew its stake in Novanta by 482.1% in the fourth quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock valued at $49,000 after acquiring an additional 270 shares during the period. Huntington National Bank grew its stake in Novanta by 53.6% in the fourth quarter. Huntington National Bank now owns 430 shares of the technology company's stock valued at $66,000 after acquiring an additional 150 shares during the period. SBI Securities Co. Ltd. acquired a new position in Novanta in the fourth quarter valued at about $97,000. Finally, Venturi Wealth Management LLC grew its stake in Novanta by 6,500.0% in the fourth quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company's stock valued at $111,000 after acquiring an additional 715 shares during the period. Institutional investors own 98.35% of the company's stock.

Novanta Stock Up 3.1%

Shares of NOVT stock traded up $3.82 on Tuesday, hitting $125.74. 194,514 shares of the stock were exchanged, compared to its average volume of 214,708. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.52 billion, a P/E ratio of 75.29 and a beta of 1.51. The business has a 50-day moving average of $119.85 and a 200 day moving average of $140.12. Novanta Inc. has a fifty-two week low of $98.76 and a fifty-two week high of $187.12.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. The company had revenue of $233.37 million during the quarter, compared to analysts' expectations of $233.34 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. Novanta's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Equities analysts anticipate that Novanta Inc. will post 3.03 EPS for the current year.

Analyst Ratings Changes

Separately, Robert W. Baird decreased their target price on Novanta from $169.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd.

Novanta Company 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.