Nuveen Asset Management LLC Has $19.37 Million Stock Position in Novanta Inc. (NASDAQ:NOVT)

Nuveen Asset Management LLC grew its holdings in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 126,812 shares of the technology company's stock after acquiring an additional 3,406 shares during the quarter. Nuveen Asset Management LLC owned about 0.35% of Novanta worth $19,373,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NOVT. KBC Group NV grew its holdings in Novanta by 41.6% during the fourth quarter. KBC Group NV now owns 1,500 shares of the technology company's stock worth $229,000 after acquiring an additional 441 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in Novanta in the 4th quarter worth about $3,681,000. Proficio Capital Partners LLC purchased a new position in shares of Novanta during the 4th quarter valued at $5,298,000. Zions Bancorporation N.A. raised its stake in shares of Novanta by 21.2% during the 4th quarter. Zions Bancorporation N.A. now owns 14,211 shares of the technology company's stock worth $2,171,000 after purchasing an additional 2,486 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Novanta by 8.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 793,359 shares of the technology company's stock valued at $119,757,000 after acquiring an additional 58,631 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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 Stock Performance

Novanta stock traded up $1.81 on Thursday, reaching $123.88. 35,836 shares of the stock were exchanged, compared to its average volume of 212,219. The stock has a market cap of $4.46 billion, a PE ratio of 74.18 and a beta of 1.51. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. Novanta Inc. has a twelve month low of $98.76 and a twelve month high of $187.12. The firm has a fifty day moving average price of $120.78 and a two-hundred day moving average price of $141.68.

Novanta (NASDAQ:NOVT - Get Free Report) last released its 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. The firm had revenue of $233.37 million during the quarter, compared to analyst estimates of $233.34 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The business's revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. Sell-side analysts anticipate that Novanta Inc. will post 3.03 EPS for the current 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.