Swiss National Bank Acquires 500 Shares of Novanta Inc. (NASDAQ:NOVT)

Swiss National Bank boosted its holdings in Novanta Inc. (NASDAQ:NOVT) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,600 shares of the technology company’s stock after acquiring an additional 500 shares during the quarter. Swiss National Bank owned 0.20% of Novanta worth $10,786,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its position in shares of Novanta by 13.1% during the 3rd quarter. Victory Capital Management Inc. now owns 8,512 shares of the technology company’s stock worth $1,523,000 after buying an additional 986 shares in the last quarter. KBC Group NV lifted its position in shares of Novanta by 14.9% during the 3rd quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock worth $189,000 after buying an additional 137 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Novanta by 1.7% during the 3rd quarter. Natixis Advisors LLC now owns 25,957 shares of the technology company’s stock worth $4,644,000 after buying an additional 434 shares in the last quarter. Pathstone Holdings LLC lifted its position in shares of Novanta by 1.2% during the 3rd quarter. Pathstone Holdings LLC now owns 25,827 shares of the technology company’s stock worth $4,621,000 after buying an additional 295 shares in the last quarter. Finally, Moran Wealth Management LLC lifted its position in shares of Novanta by 40.1% during the 3rd quarter. Moran Wealth Management LLC now owns 2,963 shares of the technology company’s stock worth $530,000 after buying an additional 848 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Novanta Trading Down 1.8 %

Shares of NOVT stock opened at $134.21 on Friday. The company has a 50 day moving average of $144.59 and a 200-day moving average of $160.29. 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 $133.17 and a 12-month high of $187.12. The firm has a market cap of $4.83 billion, a P/E ratio of 80.37 and a beta of 1.34.

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

Analyst Ratings Changes

Separately, Robert W. Baird dropped their target price 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.