Segall Bryant & Hamill LLC Has $8.94 Million Stake in Novanta Inc. (NASDAQ:NOVT)

Segall Bryant & Hamill LLC lessened its holdings in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 39.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 58,528 shares of the technology company's stock after selling 37,410 shares during the period. Segall Bryant & Hamill LLC owned 0.16% of Novanta worth $8,941,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Novanta by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,123,828 shares of the technology company's stock worth $629,997,000 after acquiring an additional 62,585 shares during the last quarter. State Street Corp raised its holdings in shares of Novanta by 2.0% during the third quarter. State Street Corp now owns 1,298,419 shares of the technology company's stock worth $232,313,000 after acquiring an additional 24,929 shares during the period. William Blair Investment Management LLC increased its holdings in Novanta by 1.2% during the 4th quarter. William Blair Investment Management LLC now owns 975,841 shares of the technology company's stock worth $149,079,000 after purchasing an additional 11,361 shares in the last quarter. Geneva Capital Management LLC raised its stake in shares of Novanta by 9.3% in the 4th quarter. Geneva Capital Management LLC now owns 852,638 shares of the technology company's stock valued at $130,257,000 after purchasing an additional 72,592 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Novanta by 8.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 793,359 shares of the technology company's stock valued at $119,757,000 after purchasing an additional 58,631 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

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Analyst Ratings Changes

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

Novanta Stock Down 0.9 %

Shares of NOVT stock traded down $1.21 during trading on Monday, reaching $127.87. The company's stock had a trading volume of 313,764 shares, compared to its average volume of 173,716. Novanta Inc. has a one year low of $125.42 and a one year high of $187.12. The business has a fifty day moving average price of $142.48 and a 200-day moving average price of $158.24. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 76.57 and a beta of 1.34. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61.

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