Nicolet Advisory Services LLC Purchases 758 Shares of Novanta Inc. (NASDAQ:NOVT)

Nicolet Advisory Services LLC raised its position in shares of Novanta Inc. (NASDAQ:NOVT) by 30.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,260 shares of the technology company’s stock after buying an additional 758 shares during the period. Nicolet Advisory Services LLC’s holdings in Novanta were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NOVT. FMR LLC grew its stake in shares of Novanta by 127.0% in the third quarter. FMR LLC now owns 8,025 shares of the technology company’s stock worth $1,436,000 after purchasing an additional 4,489 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Novanta by 34.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,054 shares of the technology company’s stock worth $3,588,000 after buying an additional 5,165 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Novanta by 3.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,147 shares of the technology company’s stock worth $1,458,000 after buying an additional 249 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Novanta by 110.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company’s stock valued at $17,938,000 after buying an additional 52,573 shares during the period. Finally, HighTower Advisors LLC bought a new position in shares of Novanta during the third quarter valued at approximately $257,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Price Performance

Shares of NASDAQ NOVT opened at $115.73 on Friday. Novanta Inc. has a 1 year low of $115.46 and a 1 year high of $187.12. The stock has a market capitalization of $4.16 billion, a P/E ratio of 69.30 and a beta of 1.42. The company’s 50-day moving average is $140.88 and its 200 day moving average is $157.44. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81.

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

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price target on shares of Novanta from $169.00 to $160.00 and set a “neutral” rating on the stock in a 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.