Stock Buzzer: Is Novanta Inc (USA) a Buy? The Stock Reaches 52-Week High Today

Stock Buzzer: Is Novanta Inc (USA) a Buy? The Stock Reaches 52 Week High Today

The stock of Novanta Inc (USA) (NASDAQ:NOVT) hit a new 52-week high and has $20.88 target or 6.00% above today’s $19.70 share price. The 7 months bullish chart indicates low risk for the $703.41 million company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $20.88 price target is reached, the company will be worth $42.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 16,645 shares traded hands. Novanta Inc (USA) (NASDAQ:NOVT) has risen 32.53% since April 20, 2016 and is uptrending. It has outperformed by 27.97% the S&P500.

According to Zacks Investment Research, “Novanta Inc. designs, develops, manufactures and sells precision photonic and motion control components and subsystems to original equipment manufacturers in the medical equipment and advanced industrial technology markets. Novanta Inc., formerly known as GSI Group Inc., is based in Bedford, Massachusetts.”

More important recent Novanta Inc (USA) (NASDAQ:NOVT) news were published by: Prnewswire.com which released: “GSI Group Announces Corporate Name Change to Novanta Inc.” on May 12, 2016, also Prnewswire.com published article titled: “Novanta Inc. Schedules Earnings Release and Conference Call for Wednesday …”, Prnewswire.com published: “Novanta Inc. Presents at Stifel 2016 Healthcare Conference on Wednesday …” on November 14, 2016. More interesting news about Novanta Inc (USA) (NASDAQ:NOVT) was released by: Prnewswire.com and their article: “Novanta to Acquire Reach Technology, Inc.” with publication date: May 18, 2016.

NOVT Company Profile

Novanta Inc., formerly GSI Group Inc., incorporated in 1968, designs, develops, makes and sells precision photonic and motion control components and subsystems. The Firm offers its products to original equipment manufacturers (OEMs) in the medical equipment and industrial technology markets. The Company’s divisions include Laser Products, Vision Technologies and Precision Motion. The Company’s enabling technologies include laser sources, laser scanning and beam delivery products, optical data collection and machine vision technologies, medical visualization and informatics solutions, and precision motion control products.

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