Novanta Inc. (NASDAQ:NOVT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in Novanta Inc. (NASDAQ:NOVT - Get Rating) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 774,459 shares of the technology company's stock after selling 68,829 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.17% of Novanta worth $105,225,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NOVT. GHP Investment Advisors Inc. acquired a new stake in Novanta during the 3rd quarter worth approximately $32,000. Ellevest Inc. raised its stake in shares of Novanta by 50.3% during the 4th quarter. Ellevest Inc. now owns 254 shares of the technology company's stock worth $35,000 after buying an additional 85 shares in the last quarter. Assetmark Inc. raised its stake in shares of Novanta by 29.9% during the 4th quarter. Assetmark Inc. now owns 369 shares of the technology company's stock worth $50,000 after buying an additional 85 shares in the last quarter. UBS Group AG raised its stake in shares of Novanta by 85.7% during the 3rd quarter. UBS Group AG now owns 544 shares of the technology company's stock worth $63,000 after buying an additional 251 shares in the last quarter. Finally, Point72 Hong Kong Ltd raised its stake in shares of Novanta by 350.6% during the 3rd quarter. Point72 Hong Kong Ltd now owns 793 shares of the technology company's stock worth $92,000 after buying an additional 617 shares in the last quarter. 97.55% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the company. Robert W. Baird increased their target price on Novanta from $150.00 to $161.00 in a research note on Thursday, May 11th. StockNews.com downgraded Novanta from a "buy" rating to a "hold" rating in a research note on Saturday, May 20th.

NASDAQ NOVT opened at $163.63 on Tuesday. Novanta Inc. has a 1-year low of $110.84 and a 1-year high of $173.10. The company has a market capitalization of $5.86 billion, a P/E ratio of 79.82 and a beta of 1.29. The business has a 50 day moving average price of $159.52 and a 200 day moving average price of $154.41. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.84 and a quick ratio of 1.67.

Novanta (NASDAQ:NOVT - Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. Novanta had a return on equity of 19.70% and a net margin of 8.39%. The firm had revenue of $219.10 million during the quarter, compared to the consensus estimate of $211.22 million. During the same period last year, the business posted $0.73 EPS. Novanta's quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts expect that Novanta Inc. will post 3.1 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Novanta, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Novanta wasn't on the list.

While Novanta currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Click the link below and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.