TD Asset Management Inc. reduced its stake in Novanta Inc. (NASDAQ:NOVT – Get Rating) by 22.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,574 shares of the technology company's stock after selling 13,230 shares during the quarter. TD Asset Management Inc. owned about 0.12% of Novanta worth $6,342,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new stake in shares of Novanta during the 1st quarter worth approximately $25,000. UMB Bank N A MO acquired a new stake in Novanta in the 4th quarter valued at $56,000. Fifth Third Bancorp boosted its stake in Novanta by 20.3% during the 1st quarter. Fifth Third Bancorp now owns 527 shares of the technology company's stock worth $75,000 after purchasing an additional 89 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new position in shares of Novanta during the 1st quarter worth $77,000. Finally, Hardy Reed LLC purchased a new position in shares of Novanta during the 1st quarter worth $190,000. 94.10% of the stock is owned by hedge funds and other institutional investors.
Get Novanta alerts:Novanta Price Performance
Shares of NASDAQ NOVT opened at $148.06 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. Novanta Inc. has a twelve month low of $110.84 and a twelve month high of $184.44. The stock has a 50 day moving average of $136.93 and a two-hundred day moving average of $132.98. The stock has a market cap of $5.28 billion, a P/E ratio of 83.18 and a beta of 1.16.
Novanta (NASDAQ:NOVT – Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The technology company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. Novanta had a return on equity of 20.14% and a net margin of 7.99%. The company had revenue of $215.36 million during the quarter, compared to analysts' expectations of $209.07 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm's revenue for the quarter was up 28.6% on a year-over-year basis. On average, research analysts forecast that Novanta Inc. will post 2.99 earnings per share for the current year.Analyst Ratings Changes
Several brokerages recently issued reports on NOVT. TheStreet upgraded shares of Novanta from a "c+" rating to a "b-" rating in a report on Friday, August 5th. William Blair raised Novanta from a "market perform" rating to an "outperform" rating in a research report on Wednesday, May 11th.
Novanta Profile
(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.
See Also
- Get a free copy of the StockNews.com research report on Novanta (NOVT)
- Should AbbVie Inc. Have a Place in Your Dividend Portfolio?
- Is PayPal A Buy After Post-Earnings Price Jump?
- Williams-Sonoma's High-End Consumers Are Still Spending
- Snowflake Stock Soars On Strong Results
- ShockWave Stuns With 40% Post-Earnings Price Move: Is It A Buy?
Receive News & Ratings for Novanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novanta and related companies with MarketBeat.com's FREE daily email newsletter.