BidaskClub lowered shares of Novanta (NASDAQ:NOVT) from a buy rating to a hold rating in a research report report published on Tuesday, BidAskClub reports.

Separately, Zacks Investment Research cut shares of ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th.

Shares of NASDAQ:NOVT traded up $0.08 during midday trading on Tuesday, hitting $85.02. 125 shares of the company’s stock were exchanged, compared to its average volume of 168,872. The company has a current ratio of 2.83, a quick ratio of 1.78 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $87.66. The stock has a market cap of $2.95 billion, a P/E ratio of 39.52 and a beta of 1.53. Novanta has a 12 month low of $55.68 and a 12 month high of $96.31.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $157.20 million during the quarter, compared to the consensus estimate of $155.85 million. Novanta had a net margin of 7.92% and a return on equity of 19.26%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. Analysts expect that Novanta will post 2.41 EPS for the current fiscal year.

In related news, CFO Robert Buckley sold 16,277 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $91.06, for a total transaction of $1,482,183.62. Following the transaction, the chief financial officer now directly owns 158,803 shares in the company, valued at $14,460,601.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthijs Glastra sold 30,100 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $93.21, for a total transaction of $2,805,621.00. Following the transaction, the chief executive officer now owns 123,448 shares in the company, valued at $11,506,588.08. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio boosted its holdings in Novanta by 340.0% during the first quarter. Strs Ohio now owns 2,200 shares of the technology company’s stock worth $186,000 after purchasing an additional 1,700 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Novanta in the fourth quarter valued at about $202,000. Oppenheimer Asset Management Inc. boosted its stake in Novanta by 98.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 2,379 shares of the technology company’s stock valued at $202,000 after acquiring an additional 1,183 shares during the last quarter. BB&T Corp purchased a new position in Novanta in the first quarter valued at about $227,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Novanta in the first quarter valued at about $286,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

About Novanta

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

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