Xponance Inc. Has $809,000 Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Xponance Inc. lifted its position in shares of Novanta Inc. (NASDAQ:NOVT) by 9.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,298 shares of the technology company’s stock after buying an additional 460 shares during the quarter. Xponance Inc.’s holdings in Novanta were worth $809,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Empowered Funds LLC bought a new position in Novanta during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. bought a new position in shares of Novanta during the fourth quarter worth approximately $97,000. Venturi Wealth Management LLC increased its holdings in shares of Novanta by 6,500.0% during the fourth quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company’s stock worth $111,000 after purchasing an additional 715 shares during the period. Associated Banc Corp acquired a new stake in shares of Novanta in the third quarter valued at approximately $209,000. Finally, Hardy Reed LLC bought a new stake in shares of Novanta in the third quarter valued at approximately $211,000. Institutional investors own 98.35% of the company’s stock.

Novanta Trading Up 3.0 %

Shares of Novanta stock opened at $137.51 on Tuesday. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. Novanta Inc. has a 12-month low of $131.03 and a 12-month high of $187.12. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 82.34 and a beta of 1.34. The firm’s 50-day moving average price is $144.13 and its two-hundred day moving average price is $159.50.

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

Wall Street Analyst Weigh In

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

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.