Moran Wealth Management LLC Acquires 278 Shares of Novanta Inc. (NASDAQ:NOVT)

Moran Wealth Management LLC grew its holdings in Novanta Inc. (NASDAQ:NOVT) by 9.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,241 shares of the technology company’s stock after buying an additional 278 shares during the quarter. Moran Wealth Management LLC’s holdings in Novanta were worth $495,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NOVT. Sanctuary Advisors LLC purchased a new stake in Novanta in the third quarter worth $232,000. KBC Group NV lifted its position in shares of Novanta by 41.6% in the 4th 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. Exchange Traded Concepts LLC boosted its stake in shares of Novanta by 4.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company’s stock valued at $18,419,000 after purchasing an additional 4,648 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Novanta by 110.2% during 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 valued at $17,938,000 after buying an additional 52,573 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in 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 buying an additional 4,271 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Robert W. Baird cut 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 Trading Down 1.1 %

NASDAQ NOVT opened at $134.97 on Thursday. The stock’s 50 day moving average is $146.43 and its 200 day moving average is $162.07. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.85 billion, a PE ratio of 80.82 and a beta of 1.34. Novanta Inc. has a twelve month low of $134.69 and a twelve month high of $187.12.

Novanta (NASDAQ:NOVT) last released its 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. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The firm had revenue of $238.10 million for the quarter, compared to the consensus estimate of $240.29 million. During the same period in the prior year, the firm earned $0.63 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. Research analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current fiscal 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.