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

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

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in Novanta during the fourth quarter valued at about $48,442,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Novanta by 69.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 680,169 shares of the technology company's stock valued at $103,910,000 after acquiring an additional 279,793 shares during the last quarter. WCM Investment Management LLC purchased a new stake in Novanta during the 4th quarter valued at about $15,104,000. Schroder Investment Management Group boosted its holdings in Novanta by 52.5% during the 4th quarter. Schroder Investment Management Group now owns 271,583 shares of the technology company's stock valued at $41,359,000 after acquiring an additional 93,511 shares during the period. Finally, Millennium Management LLC grew its position in Novanta by 2,714.7% during the 4th quarter. Millennium Management LLC now owns 88,297 shares of the technology company's stock worth $13,489,000 after acquiring an additional 85,160 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered 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 Trading Down 1.5%

NOVT traded down $1.77 during trading on Monday, hitting $120.13. 344,006 shares of the stock traded hands, compared to its average volume of 212,557. The firm has a market capitalization of $4.32 billion, a P/E ratio of 71.93 and a beta of 1.51. Novanta Inc. has a 12-month low of $98.76 and a 12-month high of $187.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The firm has a 50-day moving average of $121.56 and a 200 day moving average of $142.38.

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

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.