Novanta Inc. (NASDAQ:NOVT) Stock Position Decreased by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its stake in Novanta Inc. by 2.3%, now holding 437,911 shares worth approximately $55.99 million.
• Novanta received an upgrade to a "buy" rating from Wall Street Zen, indicating positive sentiment among analysts.
• The company reported a net margin of 7.42% and earnings per share of $0.74, surpassing analyst expectations.

Blair William & Co. IL decreased its holdings in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 437,911 shares of the technology company's stock after selling 10,523 shares during the quarter. Blair William & Co. IL owned approximately 1.22% of Novanta worth $55,996,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Parallel Advisors LLC grew its position in shares of Novanta by 1,426.7% during 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 during the last quarter. Johnson Financial Group Inc. lifted its position 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 during the last quarter. GAMMA Investing LLC boosted its stake in Novanta by 146.0% during the 1st quarter. GAMMA Investing LLC now owns 401 shares of the technology company's stock valued at $51,000 after purchasing an additional 238 shares during the period. CWM LLC grew its position in Novanta by 329.8% in the 1st quarter. CWM LLC now owns 404 shares of the technology company's stock worth $52,000 after purchasing an additional 310 shares during the last quarter. Finally, Signaturefd LLC grew its position in Novanta by 80.0% in the 1st quarter. Signaturefd LLC now owns 414 shares of the technology company's stock worth $53,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Novanta from a "hold" rating to a "buy" rating in a report on Sunday.

Novanta Trading Down 2.4%

Shares of NOVT stock opened at $120.10 on Monday. Novanta Inc. has a 1 year low of $98.76 and a 1 year high of $186.75. The firm has a market capitalization of $4.32 billion, a PE ratio of 61.28 and a beta of 1.48. The stock has a fifty day moving average of $126.07 and a two-hundred day moving average of $130.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.70 and a current ratio of 2.56.

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

About Novanta

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.

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