Novanta Inc. (NASDAQ:NOVT) Holdings Lifted by Blair William & Co. IL

Blair William & Co. IL lifted its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 448,434 shares of the technology company's stock after purchasing an additional 10,459 shares during the quarter. Blair William & Co. IL owned about 1.25% of Novanta worth $68,507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of Novanta during the 3rd quarter worth about $948,000. Charles Schwab Investment Management Inc. raised its holdings in Novanta by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,390 shares of the technology company's stock worth $78,616,000 after purchasing an additional 4,271 shares in the last quarter. Citigroup Inc. lifted its position in Novanta by 179.9% in the third quarter. Citigroup Inc. now owns 34,003 shares of the technology company's stock worth $6,084,000 after purchasing an additional 21,854 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Novanta in the third quarter worth approximately $366,000. Finally, Associated Banc Corp bought a new position in Novanta during the 3rd quarter valued at $209,000. 98.35% of the stock is currently owned by institutional investors.

Novanta Price Performance

Shares of NASDAQ:NOVT traded down $1.80 during trading hours on Monday, hitting $127.28. 76,387 shares of the company's stock traded hands, compared to its average volume of 172,792. The company's fifty day simple moving average is $142.91 and its two-hundred day simple moving average is $158.53. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 76.41 and a beta of 1.34. 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 52 week low of $125.61 and a 52 week high of $187.12.

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Novanta (NASDAQ:NOVT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The technology company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The firm had revenue of $238.10 million during the quarter, compared to analysts' expectations of $240.29 million. During the same period last year, the firm posted $0.63 earnings per share. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, equities analysts anticipate that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Novanta Profile

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.