Callan Family Office LLC Acquires Shares of 3,045 Novanta Inc. (NASDAQ:NOVT)

Callan Family Office LLC bought a new stake in Novanta Inc. (NASDAQ:NOVT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,045 shares of the technology company's stock, valued at approximately $465,000.

Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in shares of Novanta by 0.7% in the fourth quarter. Arizona State Retirement System now owns 10,412 shares of the technology company's stock valued at $1,591,000 after buying an additional 76 shares during the last quarter. KBC Group NV lifted its holdings in shares of Novanta by 14.9% during the third quarter. KBC Group NV now owns 1,059 shares of the technology company's stock worth $189,000 after buying an additional 137 shares in the last quarter. Nicolet Advisory Services LLC raised its stake in Novanta by 5.9% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,502 shares of the technology company's stock worth $430,000 after purchasing an additional 139 shares in the last quarter. M&T Bank Corp raised its position in shares of Novanta by 4.5% in the third quarter. M&T Bank Corp now owns 3,619 shares of the technology company's stock valued at $647,000 after buying an additional 155 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Novanta during the 4th quarter valued at $26,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Novanta Stock Down 0.4 %

NASDAQ:NOVT traded down $0.50 on Thursday, hitting $134.47. The stock had a trading volume of 202,441 shares, compared to its average volume of 163,743. The company has a market cap of $4.84 billion, a PE ratio of 80.52 and a beta of 1.34. The business's fifty day moving average is $146.43 and its 200 day moving average is $162.07. 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 Inc. has a 52 week low of $132.89 and a 52 week high of $187.12.

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Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 earnings per share for the quarter, topping 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 business had revenue of $238.10 million for the quarter, compared to analysts' expectations of $240.29 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business's revenue was up 12.5% on a year-over-year basis. On average, equities research analysts expect that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered their price objective on shares of 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.