Quantbot Technologies LP Buys New Position in Novanta Inc. (NASDAQ:NOVT)

Quantbot Technologies LP bought a new stake in Novanta Inc. (NASDAQ:NOVT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 14,295 shares of the technology company’s stock, valued at approximately $2,184,000.

Other large investors have also recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in shares of Novanta in the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. acquired a new stake in Novanta during the 4th quarter worth approximately $97,000. Venturi Wealth Management LLC lifted its position in Novanta by 6,500.0% during the 4th quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company’s stock worth $111,000 after acquiring an additional 715 shares during the period. Associated Banc Corp acquired a new stake in Novanta during the 3rd quarter worth approximately $209,000. Finally, Hardy Reed LLC acquired a new stake in Novanta during the 3rd quarter worth approximately $211,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Stock Down 0.5 %

Novanta stock opened at $133.52 on Monday. Novanta Inc. has a twelve month low of $131.03 and a twelve month high of $187.12. The stock has a 50 day moving average of $144.31 and a two-hundred day moving average of $159.75. 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 stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 79.95 and a beta of 1.34.

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

Analyst Ratings Changes

Separately, Robert W. Baird decreased their price objective on Novanta from $169.00 to $160.00 and set a “neutral” rating for the company 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.