Versor Investments LP Makes New Investment in Novanta Inc. (NASDAQ:NOVT)

Versor Investments LP acquired a new stake in shares of Novanta Inc. (NASDAQ:NOVT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,800 shares of the technology company’s stock, valued at approximately $275,000.

Several other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC acquired a new stake in shares of Novanta in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC boosted 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 worth $111,000 after acquiring an additional 715 shares in the last quarter. Van ECK Associates Corp grew its stake in Novanta by 28.4% in the third quarter. Van ECK Associates Corp now owns 963 shares of the technology company’s stock valued at $166,000 after acquiring an additional 213 shares during the period. KBC Group NV increased its holdings in shares of Novanta by 14.9% during the third quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock valued at $189,000 after acquiring an additional 137 shares in the last quarter. Finally, Associated Banc Corp acquired a new position in shares of Novanta during the third quarter worth approximately $209,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their price target on shares of Novanta from $169.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday.

Novanta Trading Down 0.9 %

NASDAQ:NOVT opened at $143.37 on Tuesday. 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 $137.91 and a one year high of $187.12. The company has a market cap of $5.16 billion, a PE ratio of 85.85 and a beta of 1.28. The firm has a 50-day moving average of $148.44 and a 200-day moving average of $163.96.

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

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.