Versor Investments LP Buys New Position in Novanta Inc. (NASDAQ:NOVT)

Versor Investments LP bought a new stake in Novanta Inc. (NASDAQ:NOVT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the technology company's stock, valued at approximately $275,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV grew its position in Novanta by 14.9% during the third quarter. KBC Group NV now owns 1,059 shares of the technology company's stock worth $189,000 after buying an additional 137 shares in the last quarter. Nicolet Advisory Services LLC grew its holdings in shares of Novanta by 5.9% during the third quarter. Nicolet Advisory Services LLC now owns 2,502 shares of the technology company's stock worth $430,000 after purchasing an additional 139 shares in the last quarter. M&T Bank Corp increased its position in shares of Novanta by 4.5% in the third quarter. M&T Bank Corp now owns 3,619 shares of the technology company's stock worth $647,000 after purchasing an additional 155 shares during the last quarter. Empowered Funds LLC purchased a new stake in Novanta in the fourth quarter valued at approximately $26,000. Finally, Van ECK Associates Corp lifted its position in Novanta by 28.4% during the third quarter. Van ECK Associates Corp now owns 963 shares of the technology company's stock valued at $166,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Novanta Price Performance

Shares of NOVT traded up $1.02 during midday trading on Friday, reaching $142.99. The stock had a trading volume of 189,280 shares, compared to its average volume of 161,414. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 85.62 and a beta of 1.34. The company's 50-day moving average is $147.58 and its 200 day moving average is $163.38. Novanta Inc. has a 12-month low of $136.02 and a 12-month high of $187.12.

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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, beating analysts' consensus estimates of $0.71 by $0.05. The business 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 business's quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share. On average, equities analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their price objective on shares of Novanta from $169.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday.

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.