DF Dent & Co. Inc. Has $30.55 Million Stake in Novanta Inc. (NASDAQ:NOVT)

DF Dent & Co. Inc. reduced its holdings in Novanta Inc. (NASDAQ:NOVT) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,980 shares of the technology company’s stock after selling 5,733 shares during the quarter. DF Dent & Co. Inc. owned approximately 0.56% of Novanta worth $30,551,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in Novanta in the third quarter worth $232,000. KBC Group NV raised its holdings in shares of Novanta by 41.6% in the fourth quarter. KBC Group NV now owns 1,500 shares of the technology company’s stock valued at $229,000 after buying an additional 441 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Novanta by 4.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 120,566 shares of the technology company’s stock worth $18,419,000 after buying an additional 4,648 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Novanta by 110.2% during 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 worth $17,938,000 after acquiring an additional 52,573 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its position in Novanta by 21.2% in the 4th quarter. Zions Bancorporation N.A. now owns 14,211 shares of the technology company’s stock valued at $2,171,000 after acquiring an additional 2,486 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Novanta Stock Up 0.9 %

Shares of NOVT opened at $128.65 on Thursday. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 77.04 and a beta of 1.42. Novanta Inc. has a 52 week low of $124.64 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. The business’s fifty day moving average price is $141.56 and its two-hundred day moving average price is $157.73.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 EPS for the quarter, topping 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 firm had revenue of $238.10 million during the quarter, compared to analyst estimates of $240.29 million. During the same period last year, the company earned $0.63 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. On average, analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.