Sei Investments Co. Has $39.05 Million Stock Position in Novanta Inc. (NASDAQ:NOVT)

Sei Investments Co. raised its position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 255,641 shares of the technology company's stock after purchasing an additional 5,407 shares during the quarter. Sei Investments Co. owned about 0.71% of Novanta worth $39,054,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Novanta during the fourth quarter valued at about $2,184,000. Xponance Inc. grew its stake in shares of Novanta by 9.5% in the 4th quarter. Xponance Inc. now owns 5,298 shares of the technology company's stock worth $809,000 after purchasing an additional 460 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Novanta by 1.2% in 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. Cibc World Markets Corp acquired a new stake in Novanta during the fourth quarter valued at approximately $513,000. Finally, Nicholas Company Inc. boosted its holdings in Novanta by 65.1% during the fourth quarter. Nicholas Company Inc. now owns 35,369 shares of the technology company's stock worth $5,403,000 after buying an additional 13,944 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Novanta Trading Down 2.6 %

NOVT stock traded down $3.45 during mid-day trading on Friday, reaching $129.08. 231,493 shares of the stock traded hands, compared to its average volume of 173,156. Novanta Inc. has a 52-week low of $128.13 and a 52-week high of $187.12. The stock's fifty day moving average is $143.32 and its 200-day moving average is $158.93. The company has a market cap of $4.64 billion, a P/E ratio of 77.29 and a beta of 1.34. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

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Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The firm had revenue of $238.10 million during the quarter, compared to analyst estimates of $240.29 million. During the same quarter last year, the business posted $0.63 EPS. The company's revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts expect that Novanta Inc. will post 3.03 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About Novanta

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.