Price T Rowe Associates Inc. MD Has $942,000 Stock Holdings in FARO Technologies, Inc. (NASDAQ:FARO)

Price T Rowe Associates Inc. MD raised its stake in FARO Technologies, Inc. (NASDAQ:FARO) by 3.7% in the 4th quarter, HoldingsChannel reports. The firm owned 37,129 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,314 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in FARO Technologies were worth $942,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FARO. Barclays PLC grew its stake in shares of FARO Technologies by 41.4% in the 3rd quarter. Barclays PLC now owns 61,125 shares of the scientific and technical instruments company’s stock valued at $1,171,000 after buying an additional 17,892 shares during the period. SG Americas Securities LLC boosted its holdings in FARO Technologies by 13.1% in the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock worth $212,000 after acquiring an additional 966 shares in the last quarter. Hodges Capital Management Inc. acquired a new stake in FARO Technologies in the fourth quarter valued at approximately $3,144,000. Tectonic Advisors LLC bought a new stake in shares of FARO Technologies during the fourth quarter valued at approximately $536,000. Finally, Rhumbline Advisers raised its position in shares of FARO Technologies by 4.5% during the fourth quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock worth $793,000 after purchasing an additional 1,333 shares during the period. Institutional investors and hedge funds own 97.19% of the company’s stock.

FARO Technologies Stock Performance

NASDAQ FARO opened at $42.31 on Friday. The company has a fifty day moving average price of $28.69 and a 200-day moving average price of $27.56. The firm has a market cap of $813.45 million, a price-to-earnings ratio of -120.88 and a beta of 1.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. FARO Technologies, Inc. has a 1 year low of $13.52 and a 1 year high of $42.50.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The business had revenue of $93.54 million during the quarter, compared to the consensus estimate of $91.40 million. During the same period in the prior year, the firm posted $0.36 EPS.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FARO. StockNews.com lowered shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 16th. Needham & Company LLC cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Craig Hallum lowered FARO Technologies from a “buy” rating to a “hold” rating in a report on Tuesday.

Insider Buying and Selling

In other news, CFO Matthew Horwath sold 1,480 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $43,364.00. Following the completion of the sale, the chief financial officer now directly owns 39,430 shares of the company’s stock, valued at $1,155,299. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter James Lau sold 4,617 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $135,278.10. Following the completion of the transaction, the chief executive officer now directly owns 160,076 shares in the company, valued at $4,690,226.80. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.