Segall Bryant & Hamill LLC Sells 37,410 Shares of Novanta Inc. (NASDAQ:NOVT)

Segall Bryant & Hamill LLC decreased its position in Novanta Inc. (NASDAQ:NOVT) by 39.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,528 shares of the technology company’s stock after selling 37,410 shares during the period. Segall Bryant & Hamill LLC owned 0.16% of Novanta worth $8,941,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NOVT. Summit Creek Advisors LLC acquired a new position in Novanta during the 4th quarter valued at about $7,099,000. Vanguard Group Inc. lifted its holdings in Novanta by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,123,828 shares of the technology company’s stock valued at $629,997,000 after buying an additional 62,585 shares during the period. LPL Financial LLC boosted its stake in Novanta by 19.6% in the fourth quarter. LPL Financial LLC now owns 21,537 shares of the technology company’s stock valued at $3,246,000 after acquiring an additional 3,528 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Novanta during the 4th quarter worth $1,130,000. Finally, Sei Investments Co. raised its position in shares of Novanta by 2.2% during the 4th quarter. Sei Investments Co. now owns 255,641 shares of the technology company’s stock valued at $39,054,000 after acquiring an additional 5,407 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

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

Novanta Price Performance

Shares of NOVT opened at $135.19 on Thursday. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.86 billion, a P/E ratio of 80.95 and a beta of 1.34. The stock’s 50-day moving average price is $143.63 and its two-hundred day moving average price is $159.11. Novanta Inc. has a 1 year low of $131.03 and a 1 year high of $187.12.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $238.10 million during the quarter, compared to analysts’ expectations of $240.29 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 earnings per share. On average, equities analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

About Novanta

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.