Novanta Inc. (NOVT) Shares Sold by Campbell & CO Investment Adviser LLC
Campbell & CO Investment Adviser LLC decreased its position in Novanta Inc. (NASDAQ:NOVT) by 17.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,434 shares of the technology company’s stock after selling 1,404 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Novanta were worth $281,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Thompson Davis & CO. Inc. lifted its position in Novanta by 1,500.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 4,000 shares of the technology company’s stock worth $144,000 after buying an additional 3,750 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Novanta by 2,150.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,073 shares of the technology company’s stock worth $147,000 after buying an additional 3,892 shares in the last quarter. Wade G W & Inc. bought a new stake in Novanta during the 3rd quarter worth about $217,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Novanta by 19.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,822 shares of the technology company’s stock worth $210,000 after buying an additional 938 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in Novanta during the 3rd quarter worth about $269,000. 79.03% of the stock is owned by institutional investors.
Shares of Novanta Inc. (NASDAQ NOVT) opened at $48.10 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.00 and a current ratio of 2.93. Novanta Inc. has a 52-week low of $19.85 and a 52-week high of $55.10. The company has a market cap of $1,843.76, a PE ratio of 35.07 and a beta of 1.29.
Novanta (NASDAQ:NOVT) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.08. The company had revenue of $146.30 million for the quarter, compared to analysts’ expectations of $132.10 million. Novanta had a net margin of 12.45% and a return on equity of 18.29%. Novanta’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. sell-side analysts anticipate that Novanta Inc. will post 1.56 earnings per share for the current fiscal year.
In other news, Director Stephen W. Bershad sold 500,000 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $52.55, for a total value of $26,275,000.00. Following the sale, the director now directly owns 1,711,648 shares of the company’s stock, valued at approximately $89,947,102.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.30% of the stock is currently owned by corporate insiders.
Novanta Company Profile
Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.
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