Novanta Inc. (NASDAQ:NOVT) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC trimmed its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,276 shares of the technology company’s stock after selling 319 shares during the quarter. Yousif Capital Management LLC’s holdings in Novanta were worth $1,570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC acquired a new position in Novanta during the 4th quarter worth $26,000. Parallel Advisors LLC grew its stake in Novanta by 1,426.7% during the 1st quarter. Parallel Advisors LLC now owns 229 shares of the technology company’s stock worth $29,000 after purchasing an additional 214 shares in the last quarter. Johnson Financial Group Inc. grew its stake in Novanta by 482.1% during the 4th quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company’s stock worth $49,000 after purchasing an additional 270 shares in the last quarter. Huntington National Bank grew its stake in Novanta by 53.6% during the 4th quarter. Huntington National Bank now owns 430 shares of the technology company’s stock worth $66,000 after purchasing an additional 150 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Novanta by 433.0% during the 1st quarter. UMB Bank n.a. now owns 613 shares of the technology company’s stock worth $78,000 after purchasing an additional 498 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NOVT shares. Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Robert W. Baird dropped their target price on Novanta from $169.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd.

Novanta Price Performance

Shares of NASDAQ:NOVT opened at $124.29 on Tuesday. The company has a market cap of $4.47 billion, a P/E ratio of 74.43 and a beta of 1.46. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. Novanta Inc. has a 52 week low of $98.76 and a 52 week high of $187.12. The business has a fifty day simple moving average of $121.77 and a 200-day simple moving average of $137.42.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. The business had revenue of $233.37 million during the quarter, compared to the consensus estimate of $233.34 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. Equities research analysts forecast that Novanta Inc. will post 3.03 EPS for the current year.

Novanta Profile

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.