Novanta Inc. (NASDAQ:NOVT) Stock Holdings Raised by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,123,828 shares of the technology company’s stock after purchasing an additional 62,585 shares during the period. Vanguard Group Inc. owned about 11.48% of Novanta worth $629,997,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC acquired a new stake in Novanta during the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Novanta during the 4th quarter valued at approximately $97,000. Venturi Wealth Management LLC lifted its stake in 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 last quarter. KBC Group NV boosted its holdings in 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 purchasing an additional 441 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in Novanta during the third quarter valued at $232,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Novanta Stock Performance

Shares of NOVT stock opened at $129.08 on Monday. The company has a market cap of $4.64 billion, a P/E ratio of 77.29 and a beta of 1.34. The business has a 50 day moving average of $142.91 and a two-hundred day moving average of $158.53. Novanta Inc. has a 52 week low of $128.16 and a 52 week high of $187.12. 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 (NASDAQ:NOVT) last released its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business had revenue of $238.10 million during the quarter, compared to analyst estimates of $240.29 million. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, analysts anticipate that Novanta Inc. will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.