Loomis Sayles & Co. L P Sells 8,218 Shares of Novanta Inc. (NASDAQ:NOVT)

Loomis Sayles & Co. L P reduced its stake in Novanta Inc. (NASDAQ:NOVT - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,255 shares of the technology company's stock after selling 8,218 shares during the period. Loomis Sayles & Co. L P owned approximately 0.78% of Novanta worth $42,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Novanta by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,123,828 shares of the technology company's stock valued at $629,997,000 after purchasing an additional 62,585 shares in the last quarter. State Street Corp increased its holdings in Novanta by 2.0% in the 3rd quarter. State Street Corp now owns 1,298,419 shares of the technology company's stock valued at $232,313,000 after buying an additional 24,929 shares during the period. William Blair Investment Management LLC raised its position in shares of Novanta by 1.2% in the 4th quarter. William Blair Investment Management LLC now owns 975,841 shares of the technology company's stock valued at $149,079,000 after buying an additional 11,361 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Novanta by 9.3% during the 4th quarter. Geneva Capital Management LLC now owns 852,638 shares of the technology company's stock worth $130,257,000 after acquiring an additional 72,592 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Novanta by 8.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 793,359 shares of the technology company's stock worth $119,757,000 after acquiring an additional 58,631 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

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Novanta Price Performance

NASDAQ:NOVT traded up $0.66 during trading hours on Tuesday, hitting $128.53. The company's stock had a trading volume of 36,520 shares, compared to its average volume of 173,191. Novanta Inc. has a twelve month low of $125.42 and a twelve month high of $187.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The stock has a fifty day simple moving average of $142.48 and a 200-day simple moving average of $158.24. The company has a market capitalization of $4.62 billion, a P/E ratio of 76.78 and a beta of 1.34.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The business had revenue of $238.10 million during the quarter, compared to analysts' expectations of $240.29 million. During the same period in the prior year, the company earned $0.63 EPS. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. On average, analysts anticipate that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their price objective on shares of Novanta from $169.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd.

Novanta Company 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.