Deutsche Bank AG Raises Stock Position in Novanta Inc. (NASDAQ:NOVT)

Deutsche Bank AG increased its holdings in Novanta Inc. (NASDAQ:NOVT - Free Report) by 57.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,840 shares of the technology company's stock after purchasing an additional 12,350 shares during the period. Deutsche Bank AG owned approximately 0.09% of Novanta worth $5,170,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NOVT. Norges Bank bought a new stake in Novanta in the fourth quarter worth $48,442,000. T. Rowe Price Investment Management Inc. increased its position in Novanta by 69.9% during the fourth 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 bought a new position in Novanta during the fourth quarter valued at $15,104,000. Schroder Investment Management Group increased its position in Novanta by 52.5% during the fourth 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 last quarter. Finally, Geneva Capital Management LLC increased its position in Novanta by 9.3% during the fourth quarter. Geneva Capital Management LLC now owns 852,638 shares of the technology company's stock valued at $130,257,000 after acquiring an additional 72,592 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Novanta Trading Down 1.5%

Shares of NASDAQ NOVT traded down $1.77 during mid-day trading on Friday, reaching $120.13. The company had a trading volume of 344,006 shares, compared to its average volume of 212,557. The business's 50-day moving average is $121.56 and its 200-day moving average is $142.65. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 71.93 and a beta of 1.51. Novanta Inc. has a 52 week low of $98.76 and a 52 week high of $187.12.

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, beating the consensus estimate of $0.68 by $0.06. The company had revenue of $233.37 million during the quarter, compared to analysts' expectations of $233.34 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. Equities analysts expect that Novanta Inc. will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.