Mutual of America Capital Management LLC Buys 2,912 Shares of Novanta Inc. (NASDAQ:NOVT)

Mutual of America Capital Management LLC boosted its holdings in Novanta Inc. (NASDAQ:NOVT) by 6.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 46,153 shares of the technology company’s stock after buying an additional 2,912 shares during the period. Mutual of America Capital Management LLC’s holdings in Novanta were worth $7,051,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Empowered Funds LLC purchased a new stake in Novanta in the 4th quarter worth $26,000. Venturi Wealth Management LLC increased its stake in Novanta by 6,500.0% in 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 in the last quarter. Van ECK Associates Corp increased its stake in Novanta by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 963 shares of the technology company’s stock worth $166,000 after buying an additional 213 shares in the last quarter. KBC Group NV increased its stake in Novanta by 14.9% in the 3rd quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock worth $189,000 after buying an additional 137 shares in the last quarter. Finally, Associated Banc Corp purchased a new stake in Novanta in the 3rd quarter worth $209,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird cut their price target on Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th.

Novanta Trading Down 0.5 %

Shares of Novanta stock opened at $144.64 on Monday. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 86.61 and a beta of 1.28. The business has a 50-day moving average price of $148.65 and a 200-day moving average price of $164.29. 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 Inc. has a twelve month low of $137.91 and a twelve month high of $187.12.

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

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.