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

Headlands Technologies LLC boosted its holdings in Novanta Inc. (NASDAQ:NOVT) by 1,118.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,934 shares of the technology company’s stock after buying an additional 5,447 shares during the quarter. Headlands Technologies LLC’s holdings in Novanta were worth $907,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NOVT. Empowered Funds LLC bought a new position in shares of Novanta during the fourth quarter valued at $26,000. SBI Securities Co. Ltd. bought a new position in Novanta during the 4th quarter worth $97,000. Venturi Wealth Management LLC lifted its holdings in Novanta by 6,500.0% during the 4th quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company’s stock worth $111,000 after buying an additional 715 shares during the period. KBC Group NV grew its position in shares of Novanta by 41.6% in the 4th 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. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Novanta in the third quarter valued at about $232,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Novanta Trading Up 0.9 %

NOVT opened at $128.65 on Thursday. Novanta Inc. has a twelve month low of $125.42 and a twelve month high of $187.12. The company has a fifty day moving average of $141.56 and a 200-day moving average of $157.73. The stock has a market cap of $4.63 billion, a PE ratio of 77.04 and a beta of 1.42. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61.

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

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut their price objective on Novanta from $169.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd.

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.