DF Dent & Co. Inc. Has $30.55 Million Position in Novanta Inc. (NASDAQ:NOVT)

DF Dent & Co. Inc. trimmed its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 199,980 shares of the technology company's stock after selling 5,733 shares during the period. DF Dent & Co. Inc. owned about 0.56% of Novanta worth $30,551,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Novanta by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,123,828 shares of the technology company's stock valued at $629,997,000 after purchasing an additional 62,585 shares during the period. State Street Corp raised its position in shares of Novanta by 2.0% during the third quarter. State Street Corp now owns 1,298,419 shares of the technology company's stock valued at $232,313,000 after buying an additional 24,929 shares during the last quarter. Alliancebernstein L.P. increased its position in Novanta by 6.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,004,879 shares of the technology company's stock worth $153,515,000 after purchasing an additional 58,864 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Novanta by 1.2% in the 4th quarter. William Blair Investment Management LLC now owns 975,841 shares of the technology company's stock worth $149,079,000 after purchasing an additional 11,361 shares during the period. Finally, Geneva Capital Management LLC lifted its stake in shares of Novanta by 9.3% during the 4th quarter. Geneva Capital Management LLC now owns 852,638 shares of the technology company's stock worth $130,257,000 after acquiring an additional 72,592 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Separately, Robert W. Baird lowered their target price on shares of Novanta from $169.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd.

Novanta Stock Up 2.1 %

NASDAQ NOVT traded up $2.16 on Tuesday, hitting $107.16. 140,134 shares of the stock were exchanged, compared to its average volume of 184,669. 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 fifty-two week low of $98.76 and a fifty-two week high of $187.12. The company has a market cap of $3.85 billion, a PE ratio of 64.45 and a beta of 1.42. The company has a 50-day moving average price of $139.17 and a 200-day moving average price of $156.30.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The technology company reported $0.76 earnings per share (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 firm had revenue of $238.10 million for the quarter, compared to analyst estimates of $240.29 million. During the same quarter in the prior year, the company earned $0.63 EPS. Novanta's revenue was up 12.5% on a year-over-year basis. Sell-side analysts anticipate that Novanta Inc. will post 3.03 EPS for the current fiscal year.

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.