Novanta Inc. $NOVT Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lessened its holdings in Novanta Inc. (NASDAQ:NOVT) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 522,373 shares of the technology company’s stock after selling 67,200 shares during the period. Mawer Investment Management Ltd.’s holdings in Novanta were worth $74,276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in Novanta during the second quarter worth about $34,000. Gables Capital Management Inc. bought a new position in shares of Novanta in the third quarter worth about $39,000. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Novanta by 29.5% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 303 shares of the technology company’s stock valued at $43,000 after purchasing an additional 69 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Novanta by 231.7% in the 3rd quarter. Signaturefd LLC now owns 345 shares of the technology company’s stock valued at $49,000 after purchasing an additional 241 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Novanta in the 2nd quarter valued at approximately $54,000. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Zacks Research lowered shares of Novanta from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Weiss Ratings downgraded shares of Novanta from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Wall Street Zen lowered shares of Novanta from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Robert W. Baird cut their target price on shares of Novanta from $194.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Novanta has a consensus rating of “Hold” and a consensus price target of $175.00.

Novanta Price Performance

NOVT stock traded up $1.46 during midday trading on Friday, reaching $118.88. 606,606 shares of the stock were exchanged, compared to its average volume of 505,197. The stock has a market capitalization of $4.50 billion, a PE ratio of 90.75, a P/E/G ratio of 2.55 and a beta of 1.71. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $176.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 3.79. The company has a fifty day moving average price of $140.29 and a 200 day moving average price of $142.25.

Novanta (NASDAQ:NOVT) last issued its earnings results on Monday, November 9th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. The business had revenue of $305.01 million during the quarter, compared to analysts’ expectations of $301.02 million. Novanta had a return on equity of 10.23% and a net margin of 4.89%. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. As a group, analysts expect that Novanta Inc. will post 3.68 EPS for the current fiscal year.

Novanta Company Profile

Novanta develops and manufactures precision technologies used in medical and advanced industrial applications. Its products include photonics and laser components, precision motion-control systems, machine-vision technologies, and related equipment and software. The company’s technologies are used in areas such as medical and surgical systems, life sciences, robotics, and industrial automation. Novanta serves customers internationally, with operations and customers across North America, Europe, and Asia.