Schroder Investment Management Group Increases Holdings in Novanta Inc. (NASDAQ:NOVT)

Schroder Investment Management Group lifted its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 52.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,583 shares of the technology company’s stock after purchasing an additional 93,511 shares during the period. Schroder Investment Management Group’s holdings in Novanta were worth $41,359,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in Novanta by 0.7% in the 4th quarter. Arizona State Retirement System now owns 10,412 shares of the technology company’s stock valued at $1,591,000 after acquiring an additional 76 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Novanta by 5.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,687 shares of the technology company’s stock worth $258,000 after acquiring an additional 90 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Novanta by 4.5% in the third quarter. M&T Bank Corp now owns 3,619 shares of the technology company’s stock worth $647,000 after acquiring an additional 155 shares during the period. Empowered Funds LLC purchased a new position in shares of Novanta in the fourth quarter valued at $26,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Novanta by 3.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,147 shares of the technology company’s stock valued at $1,458,000 after purchasing an additional 249 shares during the period. Institutional investors own 98.35% of the company’s stock.

Novanta Trading Down 0.3 %

Novanta stock opened at $127.50 on Wednesday. The stock has a market cap of $4.59 billion, a P/E ratio of 76.35 and a beta of 1.34. Novanta Inc. has a fifty-two week low of $125.42 and a fifty-two week high of $187.12. The firm’s fifty day moving average price is $142.00 and its 200-day moving average price is $157.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 earnings per share 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 for the quarter, compared to analysts’ expectations of $240.29 million. During the same period in the prior year, the business earned $0.63 earnings per share. Novanta’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research 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 reduced their target price on Novanta from $169.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, March 3rd.

About Novanta

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.