Ameriprise Financial Inc. purchased a new stake in shares of Novanta Inc. (NASDAQ:NOVT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,734 shares of the technology company’s stock, valued at approximately $1,575,000. Ameriprise Financial Inc. owned 0.13% of Novanta at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NOVT. Thompson Davis & CO. Inc. grew its position in Novanta by 1,500.0% during the second quarter. Thompson Davis & CO. Inc. now owns 4,000 shares of the technology company’s stock valued at $144,000 after acquiring an additional 3,750 shares during the period. BNP Paribas Arbitrage SA grew its position in Novanta by 2,150.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,073 shares of the technology company’s stock valued at $147,000 after acquiring an additional 3,892 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Novanta by 19.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,822 shares of the technology company’s stock valued at $210,000 after acquiring an additional 938 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in Novanta during the second quarter valued at about $238,000. Finally, Victory Capital Management Inc. grew its position in Novanta by 17.6% during the second quarter. Victory Capital Management Inc. now owns 6,843 shares of the technology company’s stock valued at $246,000 after acquiring an additional 1,024 shares during the period. 78.53% of the stock is owned by hedge funds and other institutional investors.

Shares of Novanta Inc. (NASDAQ:NOVT) opened at $53.10 on Friday. Novanta Inc. has a 1 year low of $16.65 and a 1 year high of $53.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.03 and a current ratio of 2.93. The stock has a market capitalization of $1,836.84, a PE ratio of 34.93 and a beta of 1.29.

Novanta (NASDAQ:NOVT) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. Novanta had a return on equity of 18.29% and a net margin of 12.45%. The company had revenue of $146.30 million during the quarter, compared to the consensus estimate of $132.10 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The company’s revenue was up 49.5% compared to the same quarter last year. equities research analysts forecast that Novanta Inc. will post 1.56 EPS for the current year.

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Novanta 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.

Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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