GW&K Investment Management LLC Decreases Stock Position in Novanta Inc. (NASDAQ:NOVT)

GW&K Investment Management LLC lowered its stake in Novanta Inc. (NASDAQ:NOVTGet Rating) by 0.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 310,627 shares of the technology company’s stock after selling 600 shares during the period. GW&K Investment Management LLC’s holdings in Novanta were worth $54,773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CNA Financial Corp increased its holdings in shares of Novanta by 3.2% in the fourth quarter. CNA Financial Corp now owns 9,290 shares of the technology company’s stock worth $1,638,000 after buying an additional 290 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Novanta by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 282,927 shares of the technology company’s stock valued at $49,889,000 after purchasing an additional 10,386 shares during the period. Essex Investment Management Co. LLC increased its holdings in Novanta by 8.5% during the 4th quarter. Essex Investment Management Co. LLC now owns 23,510 shares of the technology company’s stock valued at $4,146,000 after purchasing an additional 1,838 shares during the period. Pictet Asset Management SA increased its holdings in Novanta by 36.2% during the 4th quarter. Pictet Asset Management SA now owns 200,108 shares of the technology company’s stock valued at $35,285,000 after purchasing an additional 53,146 shares during the period. Finally, Citigroup Inc. increased its holdings in Novanta by 91.0% during the 4th quarter. Citigroup Inc. now owns 14,689 shares of the technology company’s stock valued at $2,589,000 after purchasing an additional 6,997 shares during the period. Hedge funds and other institutional investors own 94.10% of the company’s stock.

Novanta stock traded up $0.42 during trading hours on Friday, hitting $122.50. 90,096 shares of the stock traded hands, compared to its average volume of 140,214. The firm’s 50-day moving average price is $132.65 and its two-hundred day moving average price is $147.01. The company has a current ratio of 2.05, a quick ratio of 1.29 and a debt-to-equity ratio of 0.77. The company has a market cap of $4.37 billion, a PE ratio of 75.62 and a beta of 1.11. Novanta Inc. has a one year low of $114.31 and a one year high of $184.44.

Novanta (NASDAQ:NOVTGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.10. The business had revenue of $204.20 million for the quarter, compared to analysts’ expectations of $195.96 million. Novanta had a return on equity of 19.41% and a net margin of 7.73%. The business’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. On average, sell-side analysts expect that Novanta Inc. will post 3 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on the company. William Blair upgraded Novanta from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 11th. StockNews.com assumed coverage on Novanta in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research upgraded Novanta from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a report on Friday, May 13th.

About Novanta (Get Rating)

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 beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products serving photonics-based applications for industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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