Alliancebernstein L.P. Has $153.52 Million Holdings in Novanta Inc. (NASDAQ:NOVT)

Alliancebernstein L.P. lifted its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,004,879 shares of the technology company's stock after acquiring an additional 58,864 shares during the period. Alliancebernstein L.P. owned approximately 2.80% of Novanta worth $153,515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NOVT. Sanctuary Advisors LLC bought a new position in shares of Novanta during the third quarter worth $232,000. KBC Group NV lifted its holdings in Novanta by 41.6% during the fourth quarter. KBC Group NV now owns 1,500 shares of the technology company's stock worth $229,000 after acquiring an additional 441 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Novanta by 4.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company's stock valued at $18,419,000 after acquiring an additional 4,648 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Novanta by 110.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company's stock worth $17,938,000 after acquiring an additional 52,573 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its position in shares of Novanta by 21.2% during the fourth quarter. Zions Bancorporation N.A. now owns 14,211 shares of the technology company's stock worth $2,171,000 after purchasing an additional 2,486 shares during the period. Institutional investors own 98.35% of the company's stock.

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Novanta Stock Down 10.0 %

Shares of NASDAQ:NOVT traded down $11.61 during midday trading on Friday, reaching $104.12. 1,351,813 shares of the company were exchanged, compared to its average volume of 181,238. The firm has a market cap of $3.74 billion, a PE ratio of 62.35 and a beta of 1.42. Novanta Inc. has a fifty-two week low of $103.71 and a fifty-two week high of $187.12. The stock has a fifty day simple moving average of $139.98 and a two-hundred day simple moving average of $156.87. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61.

Novanta (NASDAQ:NOVT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The technology company reported $0.76 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $240.29 million. During the same period in the previous year, the company posted $0.63 earnings per share. The company's quarterly revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price objective on Novanta from $169.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd.

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.