99,177 Shares in Novanta Inc. (NASDAQ:NOVT) Bought by WCM Investment Management LLC

WCM Investment Management LLC purchased a new stake in shares of Novanta Inc. (NASDAQ:NOVT) during the 4th quarter, HoldingsChannel reports. The firm purchased 99,177 shares of the technology company’s stock, valued at approximately $15,104,000.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its position in Novanta by 33.1% in the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock valued at $42,000 after buying an additional 59 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Novanta during the 3rd quarter valued at approximately $232,000. KBC Group NV boosted its holdings in shares of Novanta by 41.6% in the 4th quarter. KBC Group NV now owns 1,500 shares of the technology company’s stock valued at $229,000 after acquiring an additional 441 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Novanta by 4.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company’s stock worth $18,419,000 after acquiring an additional 4,648 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Novanta by 110.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company’s stock worth $17,938,000 after purchasing an additional 52,573 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Stock Down 1.5 %

Shares of NOVT stock opened at $146.41 on Monday. Novanta Inc. has a twelve month low of $143.18 and a twelve month high of $187.12. The stock has a market cap of $5.26 billion, a P/E ratio of 87.67 and a beta of 1.28. The stock has a 50 day moving average of $154.64 and a 200 day moving average of $167.36. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered their price target on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th.

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.