Novanta Inc (NASDAQ:NOVT) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in Novanta Inc (NASDAQ:NOVT) by 90.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,605 shares of the technology company’s stock after selling 15,565 shares during the period. SG Americas Securities LLC’s holdings in Novanta were worth $136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can lifted its position in Novanta by 106.3% during the fourth quarter. Bank of Montreal Can now owns 462 shares of the technology company’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Novanta by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 73,373 shares of the technology company’s stock worth $4,623,000 after buying an additional 269 shares during the period. Meritage Portfolio Management increased its stake in shares of Novanta by 0.3% in the first quarter. Meritage Portfolio Management now owns 91,553 shares of the technology company’s stock worth $7,757,000 after buying an additional 319 shares during the period. Sapphire Star Partners LP increased its stake in shares of Novanta by 2.2% in the fourth quarter. Sapphire Star Partners LP now owns 16,711 shares of the technology company’s stock worth $1,052,000 after buying an additional 362 shares during the period. Finally, Strs Ohio purchased a new position in shares of Novanta in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 87.13% of the company’s stock.

Several research analysts recently commented on NOVT shares. BidaskClub downgraded shares of Novanta from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Zacks Investment Research downgraded shares of Novanta from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st.

Novanta stock traded down $1.67 during mid-day trading on Monday, reaching $92.63. 151,300 shares of the company traded hands, compared to its average volume of 149,814. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.83 and a quick ratio of 1.78. The stock’s 50 day moving average price is $84.92. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 42.88 and a beta of 1.53. Novanta Inc has a 52-week low of $55.68 and a 52-week high of $96.31.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. Novanta had a net margin of 7.92% and a return on equity of 19.26%. The firm had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $155.85 million. During the same quarter in the previous year, the business posted $0.47 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Novanta Inc will post 2.41 EPS for the current fiscal year.

About Novanta

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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