Diversified Trust Co Has $805,000 Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Diversified Trust Co lifted its position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 47.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,293 shares of the technology company's stock after purchasing an additional 2,011 shares during the period. Diversified Trust Co's holdings in Novanta were worth $805,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Novanta by 1,426.7% in the first quarter. Parallel Advisors LLC now owns 229 shares of the technology company's stock worth $29,000 after acquiring an additional 214 shares in the last quarter. Johnson Financial Group Inc. raised its stake in Novanta by 482.1% during 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 during the period. GAMMA Investing LLC boosted its position in shares of Novanta by 146.0% during the first 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 last quarter. Huntington National Bank grew its position in shares of Novanta by 53.6% during the fourth quarter. Huntington National Bank now owns 430 shares of the technology company's stock valued at $66,000 after purchasing an additional 150 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Novanta by 433.0% during the 1st quarter. UMB Bank n.a. now owns 613 shares of the technology company's stock valued at $78,000 after buying an additional 498 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Novanta Trading Up 0.4%

Shares of NOVT traded up $0.60 during trading on Thursday, reaching $133.45. 225,533 shares of the company traded hands, compared to its average volume of 221,753. The stock has a market cap of $4.80 billion, a PE ratio of 68.08 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. Novanta Inc. has a twelve month low of $98.76 and a twelve month high of $187.12. The stock has a 50-day simple moving average of $124.62 and a 200-day simple moving average of $134.42.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.06. Novanta had a net margin of 7.42% and a return on equity of 15.06%. The company 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 firm posted $0.74 earnings per share. Novanta's revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.