Nomura Holdings Inc. Takes $727,000 Position in Novanta Inc. (NASDAQ:NOVT)

Nomura Holdings Inc. bought a new stake in Novanta Inc. (NASDAQ:NOVT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,758 shares of the technology company's stock, valued at approximately $727,000.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC bought a new position in shares of Novanta in the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. grew its holdings in shares of Novanta by 482.1% in the fourth quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock valued at $49,000 after acquiring an additional 270 shares in the last quarter. Huntington National Bank grew its holdings in shares of Novanta by 53.6% in the fourth quarter. Huntington National Bank now owns 430 shares of the technology company's stock valued at $66,000 after acquiring an additional 150 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Novanta in the fourth quarter valued at approximately $97,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Novanta by 6,500.0% in the fourth quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company's stock valued at $111,000 after acquiring an additional 715 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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.

Novanta Price Performance

Shares of NASDAQ NOVT opened at $128.31 on Wednesday. The stock has a fifty day simple moving average of $122.58 and a two-hundred day simple moving average of $143.84. Novanta Inc. has a 1-year low of $98.76 and a 1-year high of $187.12. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 76.83 and a beta of 1.51. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

Novanta (NASDAQ:NOVT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.06. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business had revenue of $233.37 million during the quarter, compared to analyst estimates of $233.34 million. During the same period in the prior year, the company earned $0.74 earnings per share. Novanta's revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.