MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Novanta Inc. (NASDAQ:NOVT - Free Report) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,761 shares of the technology company's stock after buying an additional 2,317 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.10% of Novanta worth $5,608,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC purchased a new position in Novanta in the 4th quarter valued at approximately $26,000. Johnson Financial Group Inc. boosted its holdings in Novanta by 482.1% in the 4th quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock valued at $49,000 after purchasing an additional 270 shares during the period. Huntington National Bank boosted its holdings in Novanta by 53.6% in the 4th quarter. Huntington National Bank now owns 430 shares of the technology company's stock valued at $66,000 after purchasing an additional 150 shares during the period. SBI Securities Co. Ltd. bought a new position in Novanta in the 4th quarter valued at $97,000. Finally, Venturi Wealth Management LLC boosted its holdings in Novanta by 6,500.0% in the 4th quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company's stock valued at $111,000 after purchasing an additional 715 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Novanta Price Performance

Shares of NASDAQ NOVT traded down $1.77 during mid-day trading on Friday, reaching $120.13. 344,006 shares of the company were exchanged, compared to its average volume of 212,557. Novanta Inc. has a 52 week low of $98.76 and a 52 week high of $187.12. 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 stock has a market capitalization of $4.32 billion, a PE ratio of 71.93 and a beta of 1.51. The company's 50 day moving average price is $121.56 and its 200 day moving average price is $142.65.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. The business 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 firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. Sell-side analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price target on shares of Novanta from $169.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, March 3rd.

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.