Neuberger Berman Group LLC Decreases Stock Position in Novanta Inc. (NASDAQ:NOVT)

Neuberger Berman Group LLC decreased its holdings in Novanta Inc. (NASDAQ:NOVT) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 740,873 shares of the technology company’s stock after selling 142,093 shares during the quarter. Neuberger Berman Group LLC’s holdings in Novanta were worth $113,183,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. FMR LLC increased its holdings in shares of Novanta by 127.0% during the 3rd quarter. FMR LLC now owns 8,025 shares of the technology company’s stock valued at $1,436,000 after acquiring an additional 4,489 shares during the last quarter. HighTower Advisors LLC acquired a new position in Novanta in the third quarter valued at about $257,000. State Street Corp raised its holdings in Novanta by 2.0% during the third quarter. State Street Corp now owns 1,298,419 shares of the technology company’s stock worth $232,313,000 after acquiring an additional 24,929 shares in the last quarter. Barclays PLC raised its stake in Novanta by 215.1% in the third quarter. Barclays PLC now owns 65,564 shares of the technology company’s stock valued at $11,731,000 after buying an additional 44,756 shares during the period. Finally, M&T Bank Corp grew its position in shares of Novanta by 4.5% in the third quarter. M&T Bank Corp now owns 3,619 shares of the technology company’s stock valued at $647,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Novanta Stock Up 14.8 %

NOVT opened at $117.84 on Thursday. The business’s fifty day simple moving average is $136.10 and its 200 day simple moving average is $154.75. Novanta Inc. has a 52 week low of $98.76 and a 52 week high of $187.12. The stock has a market cap of $4.24 billion, a PE ratio of 70.56 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 released its earnings results 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. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company had revenue of $238.10 million for the quarter, compared to analysts’ expectations of $240.29 million. During the same quarter in the previous year, the company earned $0.63 EPS. Novanta’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their target price on Novanta from $169.00 to $160.00 and set a “neutral” rating for the company in a research report 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.