WCM Investment Management LLC purchased a new stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 99,177 shares of the technology company's stock, valued at approximately $15,104,000. WCM Investment Management LLC owned 0.28% of Novanta as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the business. Empowered Funds LLC acquired a new position in Novanta during the fourth quarter worth about $26,000. GAMMA Investing LLC grew its holdings in Novanta by 33.1% during the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company's stock worth $42,000 after acquiring an additional 59 shares during the period. GHP Investment Advisors Inc. acquired a new position in shares of Novanta in the 3rd quarter valued at $49,000. nVerses Capital LLC acquired a new position in shares of Novanta in the 3rd quarter valued at $54,000. Finally, Van ECK Associates Corp boosted its position in shares of Novanta by 28.4% in the 3rd 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 period. 98.35% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird decreased their price target on Novanta from $175.00 to $169.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th.
Check Out Our Latest Research Report on NOVT
Novanta Trading Down 0.9 %
Shares of NASDAQ:NOVT traded down $1.38 during midday trading on Thursday, reaching $146.38. The company had a trading volume of 166,967 shares, compared to its average volume of 194,223. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. Novanta Inc. has a 1-year low of $142.81 and a 1-year high of $187.12. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 87.65 and a beta of 1.28. The company has a fifty day simple moving average of $153.32 and a two-hundred day simple moving average of $166.61.
Novanta Profile
(
Free Report)
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.
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