Schroder Investment Management Group Purchases 93,511 Shares of Novanta Inc. (NASDAQ:NOVT)

Schroder Investment Management Group raised its holdings in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 52.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 271,583 shares of the technology company's stock after acquiring an additional 93,511 shares during the period. Schroder Investment Management Group owned approximately 0.76% of Novanta worth $41,359,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NOVT. Sanctuary Advisors LLC bought a new position in Novanta during the 3rd quarter worth approximately $232,000. KBC Group NV raised its holdings in Novanta by 41.6% in 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 raised its holdings in Novanta by 4.0% in the fourth 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Novanta by 110.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company's stock valued at $17,938,000 after buying an additional 52,573 shares during the period. Finally, Zions Bancorporation N.A. increased its position in shares of 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 buying an additional 2,486 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

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Analyst Ratings Changes

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

Novanta Stock Down 10.0 %

Shares of NOVT traded down $11.61 on Friday, hitting $104.12. The company's stock had a trading volume of 1,351,813 shares, compared to its average volume of 181,238. The firm's fifty day moving average price is $139.98 and its 200-day moving average price is $156.79. Novanta Inc. has a fifty-two week low of $103.71 and a fifty-two week high of $187.12. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 62.35 and a beta of 1.42.

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