Versor Investments LP Invests $275,000 in Novanta Inc. (NASDAQ:NOVT)

Versor Investments LP acquired a new stake in Novanta Inc. (NASDAQ:NOVT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,800 shares of the technology company’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC bought a new stake in shares of Novanta in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC raised its position in shares of 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 during the last quarter. Van ECK Associates Corp lifted its stake in shares of Novanta by 28.4% in the third quarter. Van ECK Associates Corp now owns 963 shares of the technology company’s stock worth $166,000 after acquiring an additional 213 shares during the period. KBC Group NV boosted its holdings in Novanta by 14.9% in the third quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock valued at $189,000 after acquiring an additional 137 shares during the last quarter. Finally, Associated Banc Corp acquired a new stake in Novanta during the 3rd quarter valued at approximately $209,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Novanta Price Performance

NOVT stock opened at $143.37 on Tuesday. 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 $5.16 billion, a price-to-earnings ratio of 85.85 and a beta of 1.28. The company’s fifty day simple moving average is $148.44 and its 200 day simple moving average is $163.96. Novanta Inc. has a 12-month low of $137.91 and a 12-month high of $187.12.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The company had revenue of $238.10 million for the quarter, compared to the consensus estimate of $240.29 million. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. On average, analysts expect that Novanta Inc. will post 3.03 earnings per share 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.