Captrust Financial Advisors Has $495,000 Stake in Novanta Inc. (NASDAQ:NOVT)

Captrust Financial Advisors lowered its stake in Novanta Inc. (NASDAQ:NOVT) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,241 shares of the technology company’s stock after selling 135 shares during the quarter. Captrust Financial Advisors’ holdings in Novanta were worth $495,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NOVT. Barclays PLC increased its stake in shares of Novanta by 215.1% in the 3rd quarter. Barclays PLC now owns 65,564 shares of the technology company’s stock valued at $11,731,000 after buying an additional 44,756 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Novanta by 4.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company’s stock valued at $18,419,000 after acquiring an additional 4,648 shares during the last quarter. KBC Group NV increased its position in Novanta by 41.6% in the fourth quarter. KBC Group NV now owns 1,500 shares of the technology company’s stock worth $229,000 after purchasing an additional 441 shares during the period. Empowered Funds LLC bought a new stake in Novanta during the 4th quarter worth about $26,000. Finally, Entropy Technologies LP acquired a new position in Novanta during the 4th quarter valued at about $284,000. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Novanta Price Performance

NOVT opened at $131.17 on Monday. The company has a fifty day moving average price of $122.70 and a two-hundred day moving average price of $144.34. The firm has a market capitalization of $4.72 billion, a PE ratio of 78.55 and a beta of 1.51. Novanta Inc. has a 52 week low of $98.76 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.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.06. The business had revenue of $233.37 million for the quarter, compared to analyst estimates of $233.34 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. As a group, analysts anticipate that Novanta Inc. will post 3.03 earnings per share 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.