Jane Street Group LLC Reduces Holdings in Novanta Inc. (NASDAQ:NOVT)

Jane Street Group LLC cut its holdings in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 90.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,309 shares of the technology company's stock after selling 32,690 shares during the period. Jane Street Group LLC's holdings in Novanta were worth $506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOVT. Empowered Funds LLC bought a new stake in Novanta during the 4th quarter worth approximately $26,000. Johnson Financial Group Inc. raised its stake in shares of Novanta by 482.1% in the fourth quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock worth $49,000 after purchasing an additional 270 shares during the last quarter. Huntington National Bank raised its position in Novanta by 53.6% in the 4th quarter. Huntington National Bank now owns 430 shares of the technology company's stock valued at $66,000 after buying an additional 150 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Novanta during the 4th quarter valued at $97,000. Finally, Venturi Wealth Management LLC lifted its stake in Novanta by 6,500.0% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Novanta Stock Performance

Shares of NOVT stock traded down $0.55 during trading on Friday, hitting $123.77. The company's stock had a trading volume of 314,549 shares, compared to its average volume of 214,255. The business has a fifty day moving average of $120.26 and a 200-day moving average of $140.75. The company has a market cap of $4.45 billion, a PE ratio of 74.11 and a beta of 1.51. Novanta Inc. has a 52 week low of $98.76 and a 52 week high of $187.12. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

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

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their price target on shares of Novanta from $169.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd.

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.