State Street Corp lifted its stake in Novanta Inc. (NASDAQ:NOVT) by 4.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 609,067 shares of the technology company’s stock after buying an additional 25,085 shares during the quarter. State Street Corp owned approximately 1.76% of Novanta worth $21,925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thompson Davis & CO. Inc. boosted its position in Novanta by 1,500.0% during the second 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 boosted its position in Novanta by 2,150.3% during the second 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 boosted its position in Novanta by 19.2% during the second 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 position in Novanta during the second quarter worth approximately $238,000. Finally, Victory Capital Management Inc. boosted its position in Novanta by 17.6% during the second 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. Hedge funds and other institutional investors own 77.97% of the company’s stock.

WARNING: “State Street Corp Buys 25,085 Shares of Novanta Inc. (NOVT)” was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another domain, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this article can be accessed at https://www.watchlistnews.com/state-street-corp-buys-25085-shares-of-novanta-inc-novt/1708884.html.

Novanta Inc. (NOVT) opened at $52.65 on Friday. The stock has a market capitalization of $1,821.28, a P/E ratio of 34.64 and a beta of 1.29. 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 1 year low of $18.25 and a 1 year high of $53.95.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $146.30 million for the quarter, compared to the consensus estimate of $132.10 million. Novanta had a return on equity of 18.29% and a net margin of 12.45%. Novanta’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 earnings per share. equities analysts forecast that Novanta Inc. will post 1.56 EPS for the current fiscal year.

About Novanta

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).

Institutional Ownership by Quarter for Novanta (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.