Neuberger Berman Group LLC Decreases Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Neuberger Berman Group LLC reduced its holdings in shares of Novanta Inc. (NASDAQ:NOVT - Get Rating) by 21.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,288,802 shares of the technology company's stock after selling 350,281 shares during the quarter. Neuberger Berman Group LLC owned approximately 3.61% of Novanta worth $175,110,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Ellevest Inc. increased its holdings in Novanta by 50.3% during the fourth quarter. Ellevest Inc. now owns 254 shares of the technology company's stock worth $35,000 after buying an additional 85 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Novanta in the 3rd quarter worth approximately $32,000. Assetmark Inc. raised its holdings in shares of Novanta by 29.9% in the 4th quarter. Assetmark Inc. now owns 369 shares of the technology company's stock worth $50,000 after purchasing an additional 85 shares during the period. UBS Group AG grew its holdings in Novanta by 85.7% during the third quarter. UBS Group AG now owns 544 shares of the technology company's stock valued at $63,000 after purchasing an additional 251 shares during the period. Finally, Point72 Hong Kong Ltd increased its position in Novanta by 350.6% in the third quarter. Point72 Hong Kong Ltd now owns 793 shares of the technology company's stock worth $92,000 after buying an additional 617 shares during the last quarter. Institutional investors own 97.55% of the company's stock.

Shares of Novanta stock traded down $0.16 during trading hours on Friday, reaching $169.88. The company had a trading volume of 12,263 shares, compared to its average volume of 117,002. The firm has a market cap of $6.08 billion, a PE ratio of 82.95 and a beta of 1.29. Novanta Inc. has a one year low of $110.84 and a one year high of $173.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.84 and a quick ratio of 1.67. The business has a fifty day simple moving average of $158.88 and a 200 day simple moving average of $154.34.

Novanta (NASDAQ:NOVT - Get Rating) last posted its earnings results on Tuesday, May 9th. The technology company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.10. Novanta had a return on equity of 19.70% and a net margin of 8.39%. The business had revenue of $219.10 million during the quarter, compared to analyst estimates of $211.22 million. During the same quarter in the previous year, the firm earned $0.73 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts anticipate that Novanta Inc. will post 3.1 earnings per share for the current fiscal year.

NOVT has been the subject of several research reports. Robert W. Baird increased their price target on Novanta from $150.00 to $161.00 in a research note on Thursday, May 11th. StockNews.com downgraded shares of Novanta from a "buy" rating to a "hold" rating in a research note on Saturday, May 20th.

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.

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