Bryce Point Capital LLC Makes New Investment in Novanta Inc. (NASDAQ:NOVT)

Bryce Point Capital LLC purchased a new stake in Novanta Inc. (NASDAQ:NOVT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,981 shares of the technology company’s stock, valued at approximately $1,830,000. Novanta accounts for about 0.5% of Bryce Point Capital LLC’s holdings, making the stock its 21st largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in Novanta in the third quarter valued at approximately $232,000. KBC Group NV boosted its stake 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 purchasing an additional 441 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Novanta by 4.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company’s stock valued at $18,419,000 after purchasing an additional 4,648 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 buying an additional 52,573 shares during the period. Finally, Zions Bancorporation N.A. raised its stake in Novanta by 21.2% during the fourth quarter. Zions Bancorporation N.A. now owns 14,211 shares of the technology company’s stock worth $2,171,000 after buying an additional 2,486 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut their price target on shares of Novanta from $169.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd.

Novanta Stock Down 0.3 %

Shares of Novanta stock opened at $127.50 on Wednesday. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 76.35 and a beta of 1.34. The stock’s 50-day moving average is $142.00 and its 200 day moving average is $157.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. Novanta Inc. has a one year low of $125.42 and a one year high of $187.12.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company had revenue of $238.10 million during the quarter, compared to the consensus estimate of $240.29 million. During the same quarter last year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts anticipate 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.