Empowered Funds LLC Buys Shares of 172 Novanta Inc. (NASDAQ:NOVT)

Empowered Funds LLC purchased a new position in Novanta Inc. (NASDAQ:NOVT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 172 shares of the technology company’s stock, valued at approximately $26,000.

A number of other large investors also recently modified their holdings of NOVT. GHP Investment Advisors Inc. acquired a new stake in Novanta during the third quarter worth about $49,000. Van ECK Associates Corp grew its holdings in shares of Novanta by 28.4% during the third quarter. Van ECK Associates Corp now owns 963 shares of the technology company’s stock valued at $166,000 after purchasing an additional 213 shares during the last quarter. KBC Group NV grew 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 purchasing an additional 137 shares during the last quarter. Associated Banc Corp acquired a new stake in shares of Novanta during the 3rd quarter worth approximately $209,000. Finally, Hardy Reed LLC bought a new stake in shares of Novanta in the 3rd quarter worth approximately $211,000. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their price objective on Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th.

Novanta Stock Down 1.6 %

Novanta stock opened at $140.51 on Friday. 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 one year low of $139.78 and a one year high of $187.12. The company has a 50-day simple moving average of $150.14 and a 200-day simple moving average of $165.24. The firm has a market capitalization of $5.05 billion, a P/E ratio of 84.14 and a beta of 1.28.

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.