New Age Alpha Advisors LLC purchased a new position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,109 shares of the technology company's stock, valued at approximately $1,392,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOVT. Empowered Funds LLC purchased a new stake in shares of Novanta in the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new stake in Novanta during the 4th quarter valued at approximately $97,000. Venturi Wealth Management LLC lifted its position in Novanta by 6,500.0% during the 4th quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company's stock worth $111,000 after acquiring an additional 715 shares during the period. KBC Group NV lifted its position in Novanta by 41.6% during the 4th quarter. KBC Group NV now owns 1,500 shares of the technology company's stock worth $229,000 after acquiring an additional 441 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of Novanta in the 3rd quarter valued at approximately $232,000. Hedge funds and other institutional investors own 98.35% of the company's stock.
Analyst Ratings Changes
Separately, Robert W. Baird cut their price target on Novanta from $169.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd.
Check Out Our Latest Analysis on Novanta
Novanta Stock Performance
Novanta stock traded down $11.61 during trading hours on Friday, reaching $104.12. 1,351,813 shares of the stock were exchanged, compared to its average volume of 180,882. The stock has a market cap of $3.74 billion, a P/E ratio of 62.35 and a beta of 1.42. The firm's 50 day moving average is $139.98 and its 200 day moving average is $156.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. Novanta Inc. has a 52-week low of $103.87 and a 52-week high of $187.12.
Novanta (NASDAQ:NOVT - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $240.29 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. Analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.
About Novanta
(
Free Report)
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.
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