Natixis Advisors LLC Has $3.88 Million Stock Position in Novanta Inc. (NASDAQ:NOVT)

Natixis Advisors LLC reduced its stake in Novanta Inc. (NASDAQ:NOVT) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 25,372 shares of the technology company’s stock after selling 585 shares during the period. Natixis Advisors LLC’s holdings in Novanta were worth $3,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOVT. Empowered Funds LLC acquired a new position in shares of Novanta in the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Novanta in the fourth quarter worth approximately $97,000. Venturi Wealth Management LLC lifted its stake in shares of 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 during the period. Associated Banc Corp acquired a new position in Novanta in the third quarter valued at approximately $209,000. Finally, Hardy Reed LLC acquired a new position in Novanta in the third quarter valued at approximately $211,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Novanta Price Performance

Shares of NOVT opened at $133.52 on Friday. Novanta Inc. has a 52-week low of $131.03 and a 52-week high of $187.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. The business’s 50 day moving average price is $144.31 and its two-hundred day moving average price is $159.85. The firm has a market cap of $4.80 billion, a PE ratio of 79.95 and a beta of 1.34.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Tuesday, February 25th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $238.10 million for 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 was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. On average, equities analysts anticipate that Novanta Inc. will post 3.03 EPS for the current 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.