FARO Technologies, Inc. (NASDAQ:FARO) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 7.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,101 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,520 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.41% of FARO Technologies worth $1,981,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FARO. Needham Investment Management LLC raised its stake in shares of FARO Technologies by 20.0% during the third quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock valued at $19,700,000 after purchasing an additional 171,300 shares during the period. Harvey Partners LLC raised its stake in shares of FARO Technologies by 17.8% during the third quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock valued at $19,255,000 after purchasing an additional 152,000 shares during the period. Hodges Capital Management Inc. purchased a new stake in shares of FARO Technologies during the fourth quarter valued at approximately $3,144,000. Invenomic Capital Management LP raised its stake in shares of FARO Technologies by 23.2% during the third quarter. Invenomic Capital Management LP now owns 396,830 shares of the scientific and technical instruments company’s stock valued at $7,595,000 after purchasing an additional 74,631 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of FARO Technologies during the fourth quarter valued at approximately $716,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, CFO Matthew Horwath sold 1,480 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $43,364.00. Following the completion of the sale, the chief financial officer now owns 39,430 shares in the company, valued at $1,155,299. The trade was a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Peter James Lau sold 4,617 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $135,278.10. Following the sale, the chief executive officer now owns 160,076 shares of the company’s stock, valued at approximately $4,690,226.80. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,755 shares of company stock worth $356,020 over the last 90 days. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Craig Hallum lifted their price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Needham & Company LLC lifted their price target on shares of FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, StockNews.com lowered shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday.

FARO Technologies Stock Down 0.9 %

Shares of NASDAQ:FARO opened at $28.72 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $29.66 and a 200 day simple moving average of $24.69. The firm has a market cap of $545.16 million, a PE ratio of -82.05 and a beta of 1.55. FARO Technologies, Inc. has a 12-month low of $13.52 and a 12-month high of $33.13.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The business had revenue of $93.54 million during the quarter, compared to analyst estimates of $91.40 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share.

FARO Technologies Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.