Novanta Inc. (NASDAQ:NOVT) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 6.7% in the 4th quarter, according to the company in 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 0.10% of Novanta worth $5,608,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Empowered Funds LLC purchased a new position in shares of Novanta in the fourth quarter worth about $26,000. Johnson Financial Group Inc. raised 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 acquiring an additional 270 shares during the last quarter. Huntington National Bank lifted its stake in Novanta by 53.6% in the 4th quarter. Huntington National Bank now owns 430 shares of the technology company's stock worth $66,000 after purchasing an additional 150 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Novanta during the 4th quarter worth approximately $97,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Novanta by 6,500.0% during the 4th quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company's stock worth $111,000 after purchasing an additional 715 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Analyst Ratings Changes

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

Novanta Trading Down 0.9%

Shares of NASDAQ NOVT traded down $1.07 during trading on Thursday, hitting $121.90. 314,032 shares of the company were exchanged, compared to its average volume of 210,585. 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 quick ratio of 1.81 and a current ratio of 2.79. The company has a fifty day moving average price of $122.20 and a 200-day moving average price of $143.59. The firm has a market capitalization of $4.38 billion, a PE ratio of 72.99 and a beta of 1.51.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.06. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The firm had revenue of $233.37 million during the quarter, compared to analysts' expectations of $233.34 million. During the same period last year, the business earned $0.74 earnings per share. Novanta's revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect 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.