Victory Capital Management Inc. Sells 113 Shares of Novanta Inc. (NASDAQ:NOVT)

Victory Capital Management Inc. lowered its stake in Novanta Inc. (NASDAQ:NOVT) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,399 shares of the technology company’s stock after selling 113 shares during the quarter. Victory Capital Management Inc.’s holdings in Novanta were worth $1,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of Novanta in the third quarter worth $232,000. KBC Group NV grew its stake in shares of Novanta by 41.6% in the fourth quarter. KBC Group NV now owns 1,500 shares of the technology company’s stock worth $229,000 after acquiring an additional 441 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Novanta by 4.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company’s stock worth $18,419,000 after acquiring an additional 4,648 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 acquiring an additional 52,573 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Novanta by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 439,390 shares of the technology company’s stock worth $78,616,000 after acquiring an additional 4,271 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

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

Novanta Stock Up 0.5 %

NOVT stock opened at $136.67 on Thursday. Novanta Inc. has a fifty-two week low of $133.17 and a fifty-two week high of $187.12. The business’s 50-day moving average is $144.94 and its two-hundred day moving average is $160.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 81.84 and a beta of 1.34.

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

Novanta 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.