Westwood Holdings Group Inc. boosted its position in Novanta Inc. (NASDAQ:NOVT) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 573,103 shares of the technology company’s stock after acquiring an additional 53,114 shares during the period. Westwood Holdings Group Inc. owned 1.66% of Novanta worth $20,632,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Thompson Davis & CO. Inc. boosted its holdings in Novanta by 1,500.0% in the second quarter. Thompson Davis & CO. Inc. now owns 4,000 shares of the technology company’s stock worth $144,000 after acquiring an additional 3,750 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Novanta by 2,150.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,073 shares of the technology company’s stock worth $147,000 after acquiring an additional 3,892 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Novanta by 19.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,822 shares of the technology company’s stock worth $210,000 after acquiring an additional 938 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Novanta in the second quarter worth approximately $238,000. Finally, Victory Capital Management Inc. boosted its holdings in Novanta by 17.6% in the second quarter. Victory Capital Management Inc. now owns 6,843 shares of the technology company’s stock worth $246,000 after acquiring an additional 1,024 shares in the last quarter. Institutional investors and hedge funds own 78.47% of the company’s stock.

Shares of Novanta Inc. (NOVT) traded up 0.34% on Friday, reaching $43.85. The company’s stock had a trading volume of 36,481 shares. Novanta Inc. has a 12-month low of $16.55 and a 12-month high of $45.95. The company has a market cap of $1.52 billion, a P/E ratio of 27.88 and a beta of 1.36. The company’s 50 day moving average price is $37.93 and its 200 day moving average price is $32.71.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. Novanta had a return on equity of 17.11% and a net margin of 13.86%. The firm 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. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts forecast that Novanta Inc. will post $1.41 EPS for the current fiscal year.

WARNING: This piece of content was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of US and international copyright law. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/10/13/westwood-holdings-group-inc-purchases-53114-shares-of-novanta-inc-novt.html.

About Novanta

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)

Receive News & Stock Ratings for Novanta Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novanta Inc. and related stocks with our FREE daily email newsletter.