Kornitzer Capital Management Inc. KS Takes Position in Novanta Inc. (NASDAQ:NOVT)

Kornitzer Capital Management Inc. KS bought a new stake in Novanta Inc. (NASDAQ:NOVT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 33,415 shares of the technology company’s stock, valued at approximately $5,105,000. Kornitzer Capital Management Inc. KS owned 0.09% of Novanta as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV lifted its stake in shares of Novanta by 14.9% in the 3rd quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock valued at $189,000 after purchasing an additional 137 shares during the period. Nicolet Advisory Services LLC increased its position in Novanta by 5.9% during the 3rd quarter. Nicolet Advisory Services LLC now owns 2,502 shares of the technology company’s stock valued at $430,000 after buying an additional 139 shares in the last quarter. M&T Bank Corp increased its position in Novanta by 4.5% during the 3rd quarter. M&T Bank Corp now owns 3,619 shares of the technology company’s stock valued at $647,000 after buying an additional 155 shares in the last quarter. Empowered Funds LLC bought a new position in Novanta during the 4th quarter valued at approximately $26,000. Finally, Van ECK Associates Corp increased its position in Novanta by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 963 shares of the technology company’s stock valued at $166,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price objective on Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

Novanta Stock Up 0.6 %

NOVT stock opened at $143.99 on Wednesday. Novanta Inc. has a twelve month low of $140.53 and a twelve month high of $187.12. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. The firm has a market cap of $5.17 billion, a PE ratio of 86.22 and a beta of 1.28. The business has a 50 day moving average of $152.01 and a 200 day moving average of $165.82.

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.