Bradley Foster & Sargent Inc. CT Lowers Stake in Novanta Inc (NASDAQ:NOVT)

Bradley Foster & Sargent Inc. CT reduced its holdings in shares of Novanta Inc (NASDAQ:NOVT) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,460 shares of the technology company’s stock after selling 6,000 shares during the quarter. Bradley Foster & Sargent Inc. CT owned about 0.15% of Novanta worth $4,287,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Zions Bancorporation N.A. increased its holdings in Novanta by 6.0% during the 2nd quarter. Zions Bancorporation N.A. now owns 3,646 shares of the technology company’s stock worth $344,000 after acquiring an additional 206 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in Novanta by 4.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 4,885 shares of the technology company’s stock worth $461,000 after acquiring an additional 226 shares during the period. Assetmark Inc. bought a new stake in Novanta during the 2nd quarter worth approximately $26,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Novanta by 6.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,290 shares of the technology company’s stock worth $493,000 after acquiring an additional 309 shares during the period. Finally, Morgan Stanley increased its holdings in Novanta by 2.1% during the 2nd quarter. Morgan Stanley now owns 31,370 shares of the technology company’s stock worth $2,957,000 after acquiring an additional 652 shares during the period. Institutional investors own 87.35% of the company’s stock.

Shares of NASDAQ:NOVT opened at $81.64 on Friday. The company’s fifty day moving average price is $84.16 and its 200-day moving average price is $83.15. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 39.19 and a beta of 1.48. Novanta Inc has a one year low of $57.07 and a one year high of $96.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 1.74.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. The firm had revenue of $154.10 million for the quarter, compared to analyst estimates of $155.04 million. Novanta had a net margin of 6.94% and a return on equity of 20.01%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS. As a group, equities research analysts expect that Novanta Inc will post 2.17 EPS for the current year.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Novanta from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. BidaskClub lowered shares of Novanta from a “buy” rating to a “hold” rating in a report on Thursday.

Novanta Company Profile

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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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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