UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in Novanta Inc. (NASDAQ:NOVT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Novanta Inc. (NASDAQ:NOVT - Free Report) by 17.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,062 shares of the technology company's stock after purchasing an additional 17,803 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.33% of Novanta worth $18,036,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NOVT. Empowered Funds LLC purchased a new position in shares of Novanta during the fourth quarter valued at about $26,000. Johnson Financial Group Inc. boosted its stake in Novanta by 482.1% during the fourth quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock valued at $49,000 after buying an additional 270 shares during the last quarter. Huntington National Bank grew its holdings in Novanta by 53.6% during the 4th quarter. Huntington National Bank now owns 430 shares of the technology company's stock valued at $66,000 after buying an additional 150 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Novanta during the 4th quarter valued at approximately $97,000. Finally, Venturi Wealth Management LLC increased its stake in Novanta by 6,500.0% in the 4th quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company's stock worth $111,000 after acquiring an additional 715 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Novanta Price Performance

Shares of Novanta stock traded down $1.90 during trading hours on Monday, reaching $121.92. The company's stock had a trading volume of 178,832 shares, compared to its average volume of 214,342. The firm has a 50 day moving average price of $119.99 and a 200-day moving average price of $140.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The stock has a market cap of $4.39 billion, a P/E ratio of 73.01 and a beta of 1.51. Novanta Inc. has a one year low of $98.76 and a one year high of $187.12.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.68 by $0.06. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The company had revenue of $233.37 million during the quarter, compared to analyst estimates of $233.34 million. During the same quarter last year, the business posted $0.74 earnings per share. The firm's revenue was up 1.1% on a year-over-year basis. On average, analysts predict 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.