Novanta Inc. (NOVT) Holdings Cut by California State Teachers Retirement System
California State Teachers Retirement System cut its holdings in Novanta Inc. (NASDAQ:NOVT) by 8.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,776 shares of the technology company’s stock after selling 5,553 shares during the quarter. California State Teachers Retirement System owned 0.16% of Novanta worth $2,044,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of NOVT. Spark Investment Management LLC lifted its stake in Novanta by 115.1% in the second quarter. Spark Investment Management LLC now owns 72,700 shares of the technology company’s stock valued at $2,617,000 after buying an additional 38,900 shares during the period. Moody Aldrich Partners LLC acquired a new position in shares of Novanta during the second quarter worth approximately $797,000. TD Asset Management Inc. raised its position in shares of Novanta by 35.7% during the second quarter. TD Asset Management Inc. now owns 59,244 shares of the technology company’s stock worth $2,133,000 after purchasing an additional 15,600 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Novanta by 9.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 126,383 shares of the technology company’s stock worth $4,550,000 after purchasing an additional 10,863 shares during the period. Finally, ClariVest Asset Management LLC raised its position in shares of Novanta by 73.3% during the second quarter. ClariVest Asset Management LLC now owns 128,425 shares of the technology company’s stock worth $4,625,000 after purchasing an additional 54,310 shares during the period. 77.97% of the stock is currently owned by hedge funds and other institutional investors.
Novanta Inc. (NASDAQ:NOVT) opened at $52.45 on Wednesday. The company has a current ratio of 2.93, a quick ratio of 2.00 and a debt-to-equity ratio of 0.76. Novanta Inc. has a 12-month low of $18.25 and a 12-month high of $53.95. The firm has a market capitalization of $1,829.92, a P/E ratio of 34.80 and a beta of 1.29.
Novanta (NASDAQ:NOVT) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. Novanta had a return on equity of 18.29% and a net margin of 12.45%. The company had revenue of $146.30 million for the quarter, compared to analyst estimates of $132.10 million. During the same period in the prior year, the firm earned $0.29 earnings per share. Novanta’s revenue for the quarter was up 49.5% on a year-over-year basis. research analysts predict that Novanta Inc. will post 1.56 EPS for the current fiscal year.
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.
Want to see what other hedge funds are holding NOVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novanta Inc. (NASDAQ:NOVT).
Receive News & Ratings for Novanta Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novanta Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.