Shares of Novanta Inc. (NASDAQ:NOVT - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $140.53 and last traded at $143.43, with a volume of 12456 shares changing hands. The stock had previously closed at $143.17.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird lowered their price objective on shares of Novanta from $175.00 to $169.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th.
Get Our Latest Stock Report on NOVT
Novanta Price Performance
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 company has a 50-day moving average of $150.65 and a 200-day moving average of $165.38. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 84.14 and a beta of 1.28.
Institutional Trading of Novanta
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its stake in shares of Novanta by 0.7% during the 4th quarter. Arizona State Retirement System now owns 10,412 shares of the technology company's stock worth $1,591,000 after purchasing an additional 76 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Novanta by 5.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,687 shares of the technology company's stock valued at $258,000 after buying an additional 90 shares during the period. State of Wyoming boosted its position in Novanta by 4.4% during the fourth quarter. State of Wyoming now owns 2,536 shares of the technology company's stock worth $387,000 after acquiring an additional 106 shares during the last quarter. KBC Group NV grew its stake in Novanta by 14.9% in the 3rd quarter. KBC Group NV now owns 1,059 shares of the technology company's stock worth $189,000 after acquiring an additional 137 shares during the period. Finally, Nicolet Advisory Services LLC raised its holdings in Novanta by 5.9% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,502 shares of the technology company's stock valued at $430,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.
About Novanta
(
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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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