Novanta Inc. (NASDAQ:NOVT) Shares Acquired by Barclays PLC

Barclays PLC increased its position in Novanta Inc. (NASDAQ:NOVT) by 27.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,313 shares of the technology company’s stock after buying an additional 17,749 shares during the quarter. Barclays PLC owned about 0.23% of Novanta worth $12,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Novanta during the 4th quarter valued at $7,901,000. Legal & General Group Plc raised its position in Novanta by 1.6% in the fourth quarter. Legal & General Group Plc now owns 146,776 shares of the technology company’s stock valued at $22,423,000 after purchasing an additional 2,330 shares during the period. Bank of Montreal Can lifted its stake in shares of Novanta by 15.9% during the fourth quarter. Bank of Montreal Can now owns 3,725 shares of the technology company’s stock worth $569,000 after purchasing an additional 511 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Novanta by 19.2% in the fourth quarter. Russell Investments Group Ltd. now owns 10,755 shares of the technology company’s stock worth $1,643,000 after buying an additional 1,729 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Novanta by 0.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 63,667 shares of the technology company’s stock valued at $9,726,000 after buying an additional 595 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Trading Down 3.5 %

NOVT opened at $110.54 on Tuesday. Novanta Inc. has a 12-month low of $98.76 and a 12-month high of $187.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81. The stock has a market capitalization of $3.98 billion, a PE ratio of 66.19 and a beta of 1.42. The firm’s fifty day moving average price is $130.59 and its 200 day moving average price is $151.11.

Novanta (NASDAQ:NOVT) last issued its earnings results on Tuesday, February 25th. The technology company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The company 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 business’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. As a group, research analysts expect that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Novanta 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.