Schwab Charles Investment Management Inc. lifted its stake in shares of Novanta Inc (NASDAQ:NOVT) by 8.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,730 shares of the technology company’s stock after buying an additional 13,301 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.49% of Novanta worth $10,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. grew its position in shares of Novanta by 0.3% during the first quarter. Westwood Holdings Group Inc. now owns 553,591 shares of the technology company’s stock worth $28,870,000 after buying an additional 1,470 shares in the last quarter. Barclays PLC grew its position in shares of Novanta by 24.0% during the first quarter. Barclays PLC now owns 7,622 shares of the technology company’s stock worth $397,000 after buying an additional 1,477 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Novanta by 91.7% during the first quarter. Quantbot Technologies LP now owns 3,806 shares of the technology company’s stock worth $198,000 after buying an additional 1,821 shares in the last quarter. Swiss National Bank grew its position in shares of Novanta by 3.6% during the first quarter. Swiss National Bank now owns 57,300 shares of the technology company’s stock worth $2,988,000 after buying an additional 2,000 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Novanta by 430.0% during the second quarter. Advisory Services Network LLC now owns 2,650 shares of the technology company’s stock worth $182,000 after buying an additional 2,150 shares in the last quarter. 85.76% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on NOVT shares. BidaskClub downgraded shares of Novanta from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research downgraded shares of Novanta from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th.

NOVT stock opened at $70.60 on Friday. Novanta Inc has a twelve month low of $41.90 and a twelve month high of $78.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.18 and a quick ratio of 2.14. The company has a market cap of $2.45 billion, a PE ratio of 37.75 and a beta of 1.60.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Novanta had a net margin of 5.14% and a return on equity of 19.99%. The business had revenue of $150.40 million during the quarter, compared to the consensus estimate of $147.26 million. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. analysts anticipate that Novanta Inc will post 2 EPS for the current year.

In other Novanta news, VP Peter L. Chang sold 3,680 shares of Novanta stock in a transaction on Friday, August 17th. The shares were sold at an average price of $70.63, for a total value of $259,918.40. Following the completion of the transaction, the vice president now owns 36,132 shares of the company’s stock, valued at $2,552,003.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Buckley sold 13,487 shares of Novanta stock in a transaction on Monday, September 17th. The stock was sold at an average price of $72.90, for a total transaction of $983,202.30. Following the completion of the transaction, the chief financial officer now directly owns 157,027 shares of the company’s stock, valued at approximately $11,447,268.30. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.

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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