2,450 Shares in Novanta Inc. (NASDAQ:NOVT) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,450 shares of the technology company's stock, valued at approximately $374,000.

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

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their price objective 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 Down 0.3%

NOVT stock traded down $0.32 during midday trading on Thursday, reaching $126.33. 120,328 shares of the company were exchanged, compared to its average volume of 214,670. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. Novanta Inc. has a 1-year low of $98.76 and a 1-year high of $187.12. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 75.65 and a beta of 1.51. The stock's 50-day simple moving average is $119.85 and its 200 day simple moving average is $140.12.

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, beating 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 the consensus estimate of $233.34 million. During the same quarter in the prior year, the firm earned $0.74 EPS. Novanta's revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts forecast that Novanta Inc. will post 3.03 earnings per share 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.