Wealth High Governance Capital Ltda bought a new stake in Novanta Inc. (NASDAQ:NOVT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,836 shares of the technology company's stock, valued at approximately $3,794,000. Wealth High Governance Capital Ltda owned approximately 0.07% of Novanta at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of NOVT. Van ECK Associates Corp increased its holdings in Novanta by 28.4% in the third quarter. Van ECK Associates Corp now owns 963 shares of the technology company's stock worth $166,000 after buying an additional 213 shares during the last quarter. Victory Capital Management Inc. raised its position in Novanta by 13.1% during the third quarter. Victory Capital Management Inc. now owns 8,512 shares of the technology company's stock valued at $1,523,000 after acquiring an additional 986 shares in the last quarter. Geneva Capital Management LLC raised its position in Novanta by 1.1% during the third quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company's stock valued at $139,566,000 after acquiring an additional 8,574 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Novanta by 2.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 24,147 shares of the technology company's stock valued at $4,320,000 after acquiring an additional 620 shares in the last quarter. Finally, KBC Group NV raised its position in Novanta by 14.9% during the third quarter. KBC Group NV now owns 1,059 shares of the technology company's stock valued at $189,000 after acquiring an additional 137 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.
Novanta Price Performance
Shares of NOVT opened at $136.54 on Wednesday. The firm has a market cap of $4.91 billion, a PE ratio of 81.76 and a beta of 1.34. The firm's 50 day moving average price is $146.79 and its 200 day moving average price is $162.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. Novanta Inc. has a twelve month low of $136.02 and a twelve month high of $187.12.
Novanta (NASDAQ:NOVT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The technology company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The company had revenue of $238.10 million for the quarter, compared to the consensus estimate of $240.29 million. During the same quarter last year, the company posted $0.63 earnings per share. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, research analysts expect that Novanta Inc. will post 3.03 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird cut their price objective on shares of Novanta from $169.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd.
Check Out Our Latest Research Report on Novanta
Novanta Profile
(
Free Report)
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.
Further Reading
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