Natixis Purchases Shares of 4,500 Novanta Inc. (NASDAQ:NOVT)

Natixis acquired a new stake in shares of 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 acquired 4,500 shares of the technology company's stock, valued at approximately $687,000.

Several other large investors have also modified their holdings of the stock. Empowered Funds LLC purchased a new stake in shares of Novanta during the fourth quarter valued at $26,000. Huntington National Bank lifted its stake in Novanta by 53.6% during the fourth quarter. Huntington National Bank now owns 430 shares of the technology company's stock valued at $66,000 after buying an additional 150 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Novanta in the fourth quarter worth about $97,000. Venturi Wealth Management LLC increased its position in shares of Novanta by 6,500.0% in the fourth quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company's stock worth $111,000 after acquiring an additional 715 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Novanta in the third quarter worth approximately $232,000. 98.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their price objective 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 Down 0.1 %

NASDAQ:NOVT traded down $0.15 during trading hours on Tuesday, hitting $118.40. 50,183 shares of the company's stock traded hands, compared to its average volume of 197,207. The firm has a market cap of $4.26 billion, a P/E ratio of 70.69 and a beta of 1.42. Novanta Inc. has a twelve month low of $98.76 and a twelve month 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 stock's fifty day moving average price is $127.90 and its two-hundred day moving average price is $149.13.

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

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.