Novanta Inc. (NASDAQ:NOVT) Stock Position Raised by Deutsche Bank AG

Deutsche Bank AG increased its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 57.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 33,840 shares of the technology company's stock after purchasing an additional 12,350 shares during the period. Deutsche Bank AG owned about 0.09% of Novanta worth $5,170,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOVT. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Novanta in the fourth quarter valued at $2,317,000. Balyasny Asset Management L.P. acquired a new position in Novanta during the fourth quarter valued at $733,000. Ameriprise Financial Inc. lifted its stake in Novanta by 9.9% in the 4th quarter. Ameriprise Financial Inc. now owns 457,225 shares of the technology company's stock worth $69,850,000 after acquiring an additional 41,024 shares in the last quarter. Northern Trust Corp boosted its position in Novanta by 14.0% during the 4th quarter. Northern Trust Corp now owns 487,688 shares of the technology company's stock worth $74,504,000 after acquiring an additional 59,986 shares during the period. Finally, Johnson Financial Group Inc. boosted its position in Novanta by 482.1% during the 4th quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock worth $49,000 after acquiring an additional 270 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Novanta Stock Up 1.2%

Novanta stock opened at $131.17 on Monday. Novanta Inc. has a twelve month low of $98.76 and a twelve 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 firm has a market cap of $4.72 billion, a PE ratio of 78.55 and a beta of 1.51. The firm's 50 day moving average price is $122.70 and its two-hundred day moving average price is $144.34.

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 analysts' consensus estimates of $0.68 by $0.06. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The business had revenue of $233.37 million for the quarter, compared to the consensus estimate of $233.34 million. During the same period in the prior year, the business posted $0.74 earnings per share. Novanta's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, research analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal 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.

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