Headlands Technologies LLC Buys 5,447 Shares of Novanta Inc. (NASDAQ:NOVT)

Headlands Technologies LLC grew its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 1,118.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,934 shares of the technology company’s stock after purchasing an additional 5,447 shares during the period. Headlands Technologies LLC’s holdings in Novanta were worth $907,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in Novanta by 127.0% during the 3rd quarter. FMR LLC now owns 8,025 shares of the technology company’s stock worth $1,436,000 after buying an additional 4,489 shares during the period. BNP Paribas Financial Markets raised its position in shares of Novanta by 34.7% during the third quarter. BNP Paribas Financial Markets now owns 20,054 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 5,165 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Novanta by 3.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,147 shares of the technology company’s stock worth $1,458,000 after purchasing an additional 249 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Novanta by 110.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company’s stock valued at $17,938,000 after purchasing an additional 52,573 shares during the period. Finally, HighTower Advisors LLC bought a new stake in Novanta during the 3rd quarter valued at $257,000. Institutional investors own 98.35% of the company’s stock.

Novanta Stock Performance

Shares of NOVT opened at $128.65 on Thursday. The firm has a market capitalization of $4.63 billion, a P/E ratio of 77.04 and a beta of 1.42. Novanta Inc. has a 52 week low of $125.42 and a 52 week high of $187.12. The stock has a 50 day moving average price of $141.56 and a two-hundred day moving average price of $157.73. 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 announced its quarterly earnings results on Tuesday, February 25th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business had revenue of $238.10 million during the quarter, compared to the consensus estimate of $240.29 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Novanta’s revenue was up 12.5% compared to the same quarter last year. Equities analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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.