Campbell & CO Investment Adviser LLC Cuts Position in Novanta Inc. (NASDAQ:NOVT)

Campbell & CO Investment Adviser LLC decreased its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,838 shares of the technology company’s stock after selling 772 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Novanta were worth $282,000 at the end of the most recent quarter.

Shares of Novanta Inc. (NASDAQ:NOVT) opened at 37.30 on Friday. Novanta Inc. has a 1-year low of $16.23 and a 1-year high of $39.65. The stock has a market capitalization of $1.29 billion, a P/E ratio of 23.71 and a beta of 1.30. The firm’s 50-day moving average price is $37.28 and its 200 day moving average price is $31.10.

Novanta (NASDAQ:NOVT) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.41 EPS for the quarter, beating the Zacks’ 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 during the quarter, compared to the consensus estimate of $111.40 million. During the same period in the previous year, the firm posted $0.27 earnings per share. Novanta’s quarterly revenue was up 21.9% compared to the same quarter last year. Analysts expect that Novanta Inc. will post $1.41 EPS for the current fiscal year.

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Novanta Company Profile

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)

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