PDT Partners LLC boosted its position in Novanta Inc. (NASDAQ:NOVT) by 43.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,400 shares of the technology company’s stock after purchasing an additional 12,824 shares during the quarter. PDT Partners LLC owned about 0.12% of Novanta worth $1,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thompson Davis & CO. Inc. lifted its stake in Novanta by 1,500.0% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 4,000 shares of the technology company’s stock worth $144,000 after purchasing an additional 3,750 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Novanta by 2,150.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,073 shares of the technology company’s stock worth $147,000 after purchasing an additional 3,892 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Novanta by 19.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,822 shares of the technology company’s stock worth $210,000 after purchasing an additional 938 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Novanta in the 2nd quarter worth approximately $238,000. Finally, Victory Capital Management Inc. lifted its stake in Novanta by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 6,843 shares of the technology company’s stock worth $246,000 after purchasing an additional 1,024 shares in the last quarter. Institutional investors and hedge funds own 78.47% of the company’s stock.

Shares of Novanta Inc. (NOVT) opened at 45.20 on Thursday. The firm has a 50-day moving average of $37.93 and a 200 day moving average of $32.77. Novanta Inc. has a 1-year low of $16.55 and a 1-year high of $45.60. The stock has a market capitalization of $1.56 billion, a PE ratio of 28.73 and a beta of 1.36.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. The business had revenue of $119.10 million during the quarter, compared to analyst estimates of $111.40 million. Novanta had a net margin of 13.86% and a return on equity of 17.11%. The company’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. Analysts predict that Novanta Inc. will post $1.41 EPS for the current year.

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Novanta 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.

Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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