T. Rowe Price Investment Management Inc. Buys Shares of 427,781 FARO Technologies, Inc. (NASDAQ:FARO)

T. Rowe Price Investment Management Inc. bought a new stake in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 427,781 shares of the scientific and technical instruments company's stock, valued at approximately $10,849,000. T. Rowe Price Investment Management Inc. owned 2.26% of FARO Technologies at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FARO. National Bank of Canada FI bought a new stake in shares of FARO Technologies during the 4th quarter valued at $55,000. Covestor Ltd bought a new stake in shares of FARO Technologies during the 4th quarter valued at $111,000. SG Americas Securities LLC raised its stake in shares of FARO Technologies by 13.1% during the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company's stock valued at $212,000 after purchasing an additional 966 shares during the period. Intech Investment Management LLC bought a new stake in shares of FARO Technologies during the 4th quarter valued at $278,000. Finally, Inceptionr LLC bought a new stake in shares of FARO Technologies during the 4th quarter valued at $306,000. 97.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Yuval Wasserman sold 5,658 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total value of $177,378.30. Following the completion of the sale, the director now directly owns 153,512 shares in the company, valued at approximately $4,812,601.20. The trade was a 3.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Horwath sold 1,480 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $43,364.00. Following the completion of the sale, the chief financial officer now owns 39,430 shares of the company's stock, valued at approximately $1,155,299. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,755 shares of company stock valued at $356,020. 2.10% of the stock is currently owned by corporate insiders.

FARO Technologies Price Performance

Shares of NASDAQ FARO opened at $31.46 on Monday. The firm has a market capitalization of $604.85 million, a P/E ratio of -89.88 and a beta of 1.55. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The stock's 50-day simple moving average is $27.67 and its two-hundred day simple moving average is $26.45. FARO Technologies, Inc. has a twelve month low of $13.52 and a twelve month high of $33.13.

FARO Technologies (NASDAQ:FARO - Get Free Report) last announced its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.10. The business had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. During the same period in the prior year, the company earned $0.36 EPS.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Needham & Company LLC boosted their price objective on FARO Technologies from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Friday. StockNews.com lowered FARO Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 16th.

FARO Technologies Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.

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