Vanguard Group Inc. grew its position in Novanta Inc. (NASDAQ:NOVT) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,383,834 shares of the technology company’s stock after purchasing an additional 60,925 shares during the period. Vanguard Group Inc. owned approximately 4.01% of Novanta worth $49,818,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thompson Davis & CO. Inc. grew its position 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 during the last quarter. BNP Paribas Arbitrage SA grew its position 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 during the last quarter. Virginia Retirement Systems ET AL bought a new position in Novanta in the 2nd quarter worth about $238,000. Finally, Victory Capital Management Inc. grew its position 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 during the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.

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Novanta Inc. (NOVT) opened at $53.10 on Friday. Novanta Inc. has a 1 year low of $16.65 and a 1 year high of $53.95. The company has a quick ratio of 2.03, a current ratio of 2.93 and a debt-to-equity ratio of 0.76. The company has a market cap of $1,836.84, a PE ratio of 34.93 and a beta of 1.29.

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

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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