T. Rowe Price Investment Management Inc. Invests $10.85 Million in FARO Technologies, Inc. (NASDAQ:FARO)

T. Rowe Price Investment Management Inc. acquired a new position in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 427,781 shares of the scientific and technical instruments company's stock, valued at approximately $10,849,000. T. Rowe Price Investment Management Inc. owned 2.26% of FARO Technologies as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in FARO Technologies by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company's stock valued at $212,000 after buying an additional 966 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of FARO Technologies by 3.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,129 shares of the scientific and technical instruments company's stock worth $942,000 after acquiring an additional 1,314 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of FARO Technologies by 4.5% during the fourth quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company's stock worth $793,000 after acquiring an additional 1,333 shares in the last quarter. National Bank of Canada FI acquired a new stake in FARO Technologies during the fourth quarter valued at $55,000. Finally, Wells Fargo & Company MN grew its stake in FARO Technologies by 27.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,307 shares of the scientific and technical instruments company's stock valued at $312,000 after purchasing an additional 2,672 shares in the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.

FARO Technologies Stock Performance

Shares of FARO traded up $0.21 during trading hours on Thursday, reaching $29.62. 168,755 shares of the company traded hands, compared to its average volume of 187,214. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. The stock's fifty day moving average is $27.80 and its 200 day moving average is $26.58. FARO Technologies, Inc. has a 1-year low of $13.52 and a 1-year high of $33.13. The stock has a market cap of $569.47 million, a P/E ratio of -84.63 and a beta of 1.55.

FARO Technologies (NASDAQ:FARO - Get Free Report) last posted its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The business had revenue of $93.54 million for the quarter, compared to analysts' expectations of $91.40 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share.

Insider Activity

In other FARO Technologies news, CEO Peter James Lau sold 4,617 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $135,278.10. Following the transaction, the chief executive officer now directly owns 160,076 shares in the company, valued at approximately $4,690,226.80. This represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yuval Wasserman sold 5,658 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total transaction of $177,378.30. Following the completion of the transaction, the director now owns 153,512 shares in the company, valued at $4,812,601.20. This represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,755 shares of company stock worth $356,020. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FARO shares. Needham & Company LLC lifted their price target on FARO Technologies from $37.00 to $38.00 and gave the company a "buy" rating in a report on Friday, April 25th. StockNews.com downgraded shares of FARO Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 16th.

FARO Technologies Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.