Bessemer Group Inc. Sells 4,600 Shares of Novanta Inc. (NOVT)
Bessemer Group Inc. decreased its position in Novanta Inc. (NASDAQ:NOVT) by 15.5% during the second quarter, Holdings Channel reports. The fund owned 25,000 shares of the technology company’s stock after selling 4,600 shares during the period. Bessemer Group Inc.’s holdings in Novanta were worth $900,000 as of its most recent filing with the SEC.
Separately, Spark Investment Management LLC increased its position in shares of Novanta by 115.1% in the second quarter. Spark Investment Management LLC now owns 72,700 shares of the technology company’s stock worth $2,617,000 after buying an additional 38,900 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.
Novanta Inc. (NOVT) opened at 37.10 on Wednesday. The company has a market capitalization of $1.28 billion, a P/E ratio of 23.59 and a beta of 1.30. The company’s 50-day moving average price is $37.18 and its 200-day moving average price is $30.91. Novanta Inc. has a 52 week low of $16.23 and a 52 week high of $39.65.
Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. Novanta had a return on equity of 17.11% and a net margin of 13.86%. The company had revenue of $119.10 million during the quarter, compared to the consensus estimate of $111.40 million. During the same quarter last year, the company earned $0.27 EPS. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities analysts forecast that Novanta Inc. will post $1.41 EPS for the current fiscal year.
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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