OxFORD Asset Management LLP reduced its position in Novanta Inc. (NASDAQ:NOVT) by 24.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,396 shares of the technology company’s stock after selling 13,889 shares during the period. OxFORD Asset Management LLP owned 0.12% of Novanta worth $1,526,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Novanta in the second quarter worth about $293,000. PNC Financial Services Group Inc. lifted its position in shares of Novanta by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 176,861 shares of the technology company’s stock worth $6,368,000 after buying an additional 2,954 shares in the last quarter. Comerica Bank purchased a new stake in shares of Novanta in the second quarter worth about $1,514,000. Bank of New York Mellon Corp lifted its position in shares of Novanta by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 511,970 shares of the technology company’s stock worth $18,431,000 after buying an additional 16,525 shares in the last quarter. Finally, EAM Investors LLC lifted its position in shares of Novanta by 149.3% in the second quarter. EAM Investors LLC now owns 92,400 shares of the technology company’s stock worth $3,326,000 after buying an additional 55,343 shares in the last quarter. Institutional investors own 78.47% of the company’s stock.
Shares of Novanta Inc. (NOVT) opened at 44.45 on Wednesday. The company has a 50 day moving average price of $37.93 and a 200-day moving average price of $32.71. Novanta Inc. has a 52-week low of $16.55 and a 52-week high of $45.95. The stock has a market capitalization of $1.54 billion, a P/E ratio of 28.26 and a beta of 1.36.
Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $111.40 million. During the same period in the previous year, the firm posted $0.27 EPS. Novanta’s revenue was up 21.9% compared to the same quarter last year. On average, analysts predict that Novanta Inc. will post $1.41 earnings per share for the current fiscal year.
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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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