Bryce Point Capital LLC Makes New Investment in Novanta Inc. (NASDAQ:NOVT)

Bryce Point Capital LLC purchased a new position in Novanta Inc. (NASDAQ:NOVT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,981 shares of the technology company's stock, valued at approximately $1,830,000. Novanta makes up 0.5% of Bryce Point Capital LLC's holdings, making the stock its 21st largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its holdings in Novanta by 127.0% during the 3rd quarter. FMR LLC now owns 8,025 shares of the technology company's stock valued at $1,436,000 after buying an additional 4,489 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Novanta by 34.7% during the third quarter. BNP Paribas Financial Markets now owns 20,054 shares of the technology company's stock valued at $3,588,000 after acquiring an additional 5,165 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Novanta by 3.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,147 shares of the technology company's stock valued at $1,458,000 after acquiring an additional 249 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Novanta by 110.2% in the 3rd 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 purchasing an additional 52,573 shares in the last quarter. Finally, HighTower Advisors LLC bought a new position in shares of Novanta during the 3rd quarter valued at about $257,000. 98.35% of the stock is owned by institutional investors.

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Novanta Price Performance

Shares of NOVT traded down $2.32 during mid-day trading on Monday, hitting $101.81. 339,507 shares of the stock were exchanged, compared to its average volume of 181,933. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. The company has a market cap of $3.66 billion, a PE ratio of 61.12 and a beta of 1.42. Novanta Inc. has a 52-week low of $98.71 and a 52-week high of $187.12. The firm has a 50-day moving average of $139.98 and a two-hundred day moving average of $156.79.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $238.10 million during the quarter, compared to analyst estimates of $240.29 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. Novanta's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 earnings per share. On average, equities analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Novanta Company 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.