Zions Bancorporation N.A. Buys 2,486 Shares of Novanta Inc. (NASDAQ:NOVT)

Zions Bancorporation N.A. increased its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 21.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,211 shares of the technology company's stock after buying an additional 2,486 shares during the period. Zions Bancorporation N.A.'s holdings in Novanta were worth $2,171,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in shares of Novanta in the third quarter valued at approximately $232,000. KBC Group NV grew its holdings in shares of Novanta by 41.6% during the 4th quarter. KBC Group NV now owns 1,500 shares of the technology company's stock worth $229,000 after purchasing an additional 441 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Novanta by 4.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company's stock worth $18,419,000 after purchasing an additional 4,648 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Novanta by 110.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company's stock worth $17,938,000 after purchasing an additional 52,573 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Novanta by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 439,390 shares of the technology company's stock valued at $78,616,000 after purchasing an additional 4,271 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

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Novanta Price Performance

NASDAQ NOVT traded down $3.45 during trading on Friday, hitting $129.08. 231,493 shares of the company's stock were exchanged, compared to its average volume of 173,156. The stock's 50 day moving average price is $142.91 and its two-hundred day moving average price is $158.59. Novanta Inc. has a fifty-two week low of $128.16 and a fifty-two week high of $187.12. 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 cap of $4.64 billion, a PE ratio of 77.29 and a beta of 1.34.

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

Wall Street Analysts Forecast Growth

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