Novanta Inc. (NASDAQ:NOVT) Shares Bought by Headlands Technologies LLC

Headlands Technologies LLC boosted its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 1,118.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,934 shares of the technology company's stock after purchasing an additional 5,447 shares during the period. Headlands Technologies LLC's holdings in Novanta were worth $907,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Novanta during the 4th quarter valued at about $48,442,000. WCM Investment Management LLC purchased a new position in Novanta during the fourth quarter valued at $15,104,000. Schroder Investment Management Group boosted its stake in shares of Novanta by 52.5% in the fourth quarter. Schroder Investment Management Group now owns 271,583 shares of the technology company's stock worth $41,359,000 after acquiring an additional 93,511 shares during the last quarter. Franklin Resources Inc. raised its stake in Novanta by 61.6% in the 3rd quarter. Franklin Resources Inc. now owns 214,893 shares of the technology company's stock valued at $37,916,000 after purchasing an additional 81,942 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in Novanta by 9.3% in the 4th quarter. Geneva Capital Management LLC now owns 852,638 shares of the technology company's stock valued at $130,257,000 after purchasing an additional 72,592 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Novanta Trading Down 1.3 %

Novanta stock traded down $1.31 during mid-day trading on Monday, hitting $102.81. The company's stock had a trading volume of 304,632 shares, compared to its average volume of 181,858. The stock's fifty day moving average is $139.98 and its two-hundred day moving average is $156.79. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.70 billion, a PE ratio of 61.43 and a beta of 1.42. Novanta Inc. has a 1 year low of $98.71 and a 1 year high of $187.12.

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Novanta (NASDAQ:NOVT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $238.10 million for 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 revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. On average, analysts anticipate that Novanta Inc. will post 3.03 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their price target on shares of Novanta from $169.00 to $160.00 and set a "neutral" rating on the stock in a research note 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.