Artisan Partners Limited Partnership Has $69.56 Million Holdings in Novanta Inc. (NASDAQ:NOVT)

Artisan Partners Limited Partnership trimmed its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 3.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 455,334 shares of the technology company’s stock after selling 17,711 shares during the quarter. Artisan Partners Limited Partnership owned 1.27% of Novanta worth $69,561,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in NOVT. Vanguard Group Inc. increased its holdings in Novanta by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,123,828 shares of the technology company’s stock worth $629,997,000 after buying an additional 62,585 shares during the last quarter. State Street Corp increased its stake in shares of Novanta by 2.0% during the 3rd quarter. State Street Corp now owns 1,298,419 shares of the technology company’s stock worth $232,313,000 after purchasing an additional 24,929 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Novanta by 1.2% in the 4th quarter. William Blair Investment Management LLC now owns 975,841 shares of the technology company’s stock valued at $149,079,000 after purchasing an additional 11,361 shares during the period. Geneva Capital Management LLC lifted its stake in Novanta by 9.3% in the 4th quarter. Geneva Capital Management LLC now owns 852,638 shares of the technology company’s stock valued at $130,257,000 after purchasing an additional 72,592 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 worth $119,757,000 after purchasing an additional 58,631 shares during the period. Institutional investors own 98.35% of the company’s stock.

Novanta Stock Performance

NASDAQ:NOVT opened at $132.53 on Friday. The stock has a fifty day moving average price of $143.32 and a 200-day moving average price of $158.93. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 79.36 and a beta of 1.34. 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 fifty-two week low of $131.03 and a fifty-two week high of $187.12.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, February 25th. The technology company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The firm had revenue of $238.10 million for the quarter, compared to analysts’ expectations of $240.29 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts anticipate that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird cut their price objective 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 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.