Xponance Inc. Has $809,000 Stock Position in Novanta Inc. (NASDAQ:NOVT)

Xponance Inc. boosted its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,298 shares of the technology company’s stock after purchasing an additional 460 shares during the period. Xponance Inc.’s holdings in Novanta were worth $809,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Empowered Funds LLC bought a new stake in shares of Novanta during the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new position in Novanta during the fourth quarter worth $97,000. Venturi Wealth Management LLC raised its position in Novanta by 6,500.0% during 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. Associated Banc Corp bought a new position in shares of Novanta in the 3rd quarter valued at about $209,000. Finally, Hardy Reed LLC bought a new position in shares of Novanta in the 3rd quarter valued at about $211,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Novanta Stock Up 3.0 %

NOVT stock opened at $137.51 on Tuesday. Novanta Inc. has a 1-year low of $131.03 and a 1-year high of $187.12. The business’s 50 day simple moving average is $144.13 and its 200 day simple moving average is $159.50. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.94 billion, a PE ratio of 82.34 and a beta of 1.34.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 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 the consensus estimate of $240.29 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, 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.