EntryPoint Capital LLC Invests $510,000 in Novanta Inc. (NASDAQ:NOVT)

EntryPoint Capital LLC purchased a new stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,340 shares of the technology company's stock, valued at approximately $510,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in shares of Novanta in the 3rd quarter valued at $232,000. KBC Group NV increased its holdings in shares of Novanta by 41.6% in the fourth quarter. KBC Group NV now owns 1,500 shares of the technology company's stock valued at $229,000 after purchasing an additional 441 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Novanta by 4.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company's stock worth $18,419,000 after purchasing an additional 4,648 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Novanta by 110.2% during 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 purchasing an additional 52,573 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Novanta by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 439,390 shares of the technology company's stock valued at $78,616,000 after buying an additional 4,271 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

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Analysts Set New Price Targets

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

Novanta Price Performance

Shares of Novanta stock traded down $3.45 on Friday, hitting $129.08. The company's stock had a trading volume of 231,493 shares, compared to its average volume of 173,156. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 77.29 and a beta of 1.34. Novanta Inc. has a 1 year low of $128.16 and a 1 year high of $187.12. 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 firm has a fifty day moving average price of $142.91 and a 200-day moving average price of $158.59.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $238.10 million during the quarter, compared to analysts' expectations of $240.29 million. During the same period in the previous year, the business earned $0.63 earnings per share. The business's revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

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.