Lindenwold Advisors Purchases 425 Shares of Novanta Inc. (NASDAQ:NOVT)

Lindenwold Advisors increased its position in shares of Novanta Inc. (NASDAQ:NOVTGet Rating) by 23.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,219 shares of the technology company’s stock after acquiring an additional 425 shares during the quarter. Lindenwold Advisors’ holdings in Novanta were worth $316,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NOVT. UMB Bank N A MO acquired a new position in Novanta during the 4th quarter valued at about $56,000. Fifth Third Bancorp lifted its position in Novanta by 20.3% during the 1st quarter. Fifth Third Bancorp now owns 527 shares of the technology company’s stock valued at $75,000 after purchasing an additional 89 shares during the period. Hardy Reed LLC acquired a new position in Novanta during the 1st quarter valued at about $190,000. Profund Advisors LLC acquired a new position in Novanta during the 4th quarter valued at about $211,000. Finally, Revolve Wealth Partners LLC acquired a new position in Novanta during the 4th quarter valued at about $215,000. Institutional investors own 94.10% of the company’s stock.

Novanta Stock Performance

Shares of NASDAQ:NOVT opened at $152.41 on Friday. The firm’s 50 day simple moving average is $128.39 and its 200 day simple moving average is $131.75. Novanta Inc. has a fifty-two week low of $110.84 and a fifty-two week high of $184.44. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.05 and a quick ratio of 1.29. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 94.08 and a beta of 1.16.

Novanta (NASDAQ:NOVTGet Rating) last posted its earnings results on Tuesday, May 10th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. Novanta had a return on equity of 19.41% and a net margin of 7.73%. The business had revenue of $204.20 million during the quarter, compared to analysts’ expectations of $195.96 million. During the same period in the prior year, the business earned $0.58 EPS. Novanta’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Novanta Inc. will post 3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TheStreet downgraded shares of Novanta from a “b-” rating to a “c+” rating in a research report on Wednesday, June 1st. William Blair upgraded shares of Novanta from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 11th.

Novanta Profile

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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 beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products serving photonics-based applications for industrial 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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