Barclays PLC Buys 17,749 Shares of Novanta Inc. (NASDAQ:NOVT)

Barclays PLC raised its stake in Novanta Inc. (NASDAQ:NOVT - Free Report) by 27.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,313 shares of the technology company's stock after purchasing an additional 17,749 shares during the period. Barclays PLC owned 0.23% of Novanta worth $12,728,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NOVT. Sanctuary Advisors LLC bought a new position in Novanta in the 3rd quarter valued at about $232,000. KBC Group NV increased its stake in shares of Novanta by 41.6% during the fourth quarter. KBC Group NV now owns 1,500 shares of the technology company's stock worth $229,000 after purchasing an additional 441 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Novanta by 4.0% during the 4th 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. Proficio Capital Partners LLC bought a new stake in Novanta in the 4th quarter valued at $5,298,000. Finally, Zions Bancorporation N.A. boosted its stake in Novanta by 21.2% in the 4th quarter. Zions Bancorporation N.A. now owns 14,211 shares of the technology company's stock valued at $2,171,000 after purchasing an additional 2,486 shares during the period. 98.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Novanta Stock Performance

NASDAQ NOVT traded down $0.81 during trading on Friday, reaching $119.74. The company's stock had a trading volume of 123,481 shares, compared to its average volume of 197,260. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 71.70 and a beta of 1.42. Novanta Inc. has a 12 month low of $98.76 and a 12 month high of $187.12. 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 50 day moving average price of $128.43 and a 200 day moving average price of $149.85.

Novanta (NASDAQ:NOVT - Get Free Report) last released its earnings results on Tuesday, February 25th. The technology company reported $0.76 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%. The business's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. As a group, equities analysts anticipate that Novanta Inc. will post 3.03 EPS 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.