Sei Investments Co. lowered its position in Novanta Inc. (NASDAQ:NOVT) by 20.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,144 shares of the technology company’s stock after selling 11,650 shares during the period. Sei Investments Co. owned about 0.13% of Novanta worth $1,589,000 at the end of the most recent reporting period.

Separately, Spark Investment Management LLC increased its stake in Novanta by 115.1% in the second quarter. Spark Investment Management LLC now owns 72,700 shares of the technology company’s stock worth $2,617,000 after buying an additional 38,900 shares during the period. Institutional investors own 78.97% of the company’s stock.

Shares of Novanta Inc. (NASDAQ:NOVT) opened at 38.20 on Monday. The firm has a market cap of $1.32 billion, a P/E ratio of 24.28 and a beta of 1.30. Novanta Inc. has a 12-month low of $16.26 and a 12-month high of $39.65. The company’s 50 day moving average price is $37.44 and its 200-day moving average price is $31.64.

Novanta (NASDAQ:NOVT) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.09. Novanta had a return on equity of 17.11% and a net margin of 13.86%. The company had revenue of $119.10 million during the quarter, compared to analyst estimates of $111.40 million. During the same period in the prior year, the company earned $0.27 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts anticipate that Novanta Inc. will post $1.41 EPS for the current year.

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Novanta Company Profile

Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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