Amundi Sells 1,514 Shares of Novanta Inc. (NASDAQ:NOVT)

Amundi lessened its stake in Novanta Inc. (NASDAQ:NOVT) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,136 shares of the technology company’s stock after selling 1,514 shares during the period. Amundi’s holdings in Novanta were worth $2,600,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Novanta by 13.1% during the third quarter. Victory Capital Management Inc. now owns 8,512 shares of the technology company’s stock worth $1,523,000 after buying an additional 986 shares during the last quarter. KBC Group NV boosted its holdings in Novanta by 14.9% during the third quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock worth $189,000 after buying an additional 137 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Novanta by 1.7% during the third quarter. Natixis Advisors LLC now owns 25,957 shares of the technology company’s stock worth $4,644,000 after buying an additional 434 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in Novanta by 1.5% during the third quarter. Mutual of America Capital Management LLC now owns 43,241 shares of the technology company’s stock worth $7,737,000 after buying an additional 648 shares during the last quarter. Finally, Chesapeake Capital Corp IL bought a new position in Novanta during the third quarter worth about $435,000. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird reduced their target price on Novanta from $169.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd.

Novanta Trading Up 1.2 %

NASDAQ NOVT opened at $136.07 on Monday. The firm has a market cap of $4.89 billion, a P/E ratio of 81.48 and a beta of 1.34. 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’s 50-day moving average is $145.79 and its 200-day moving average is $161.28. Novanta Inc. has a one year low of $133.17 and a one year high of $187.12.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Tuesday, February 25th. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $238.10 million for the quarter, compared to analyst estimates of $240.29 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. Novanta’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. Sell-side analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

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.