Novanta Inc. (NASDAQ:NOVT) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 6,500.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 726 shares of the technology company’s stock after purchasing an additional 715 shares during the quarter. Venturi Wealth Management LLC’s holdings in Novanta were worth $111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. WCM Investment Management LLC acquired a new stake in shares of Novanta in the 4th quarter worth about $15,104,000. Franklin Resources Inc. increased its stake in shares of Novanta by 61.6% in the third quarter. Franklin Resources Inc. now owns 214,893 shares of the technology company’s stock valued at $37,916,000 after purchasing an additional 81,942 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Novanta by 8.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 793,359 shares of the technology company’s stock valued at $119,757,000 after buying an additional 58,631 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Novanta by 110.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company’s stock worth $17,938,000 after buying an additional 52,573 shares in the last quarter. Finally, Barclays PLC grew its holdings in Novanta by 215.1% in the 3rd quarter. Barclays PLC now owns 65,564 shares of the technology company’s stock worth $11,731,000 after buying an additional 44,756 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Novanta Stock Performance

NOVT stock opened at $140.51 on Monday. The company has a 50-day simple moving average of $150.14 and a 200 day simple moving average of $165.22. The company has a market capitalization of $5.05 billion, a P/E ratio of 84.14 and a beta of 1.28. 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 fifty-two week low of $139.78 and a fifty-two week high of $187.12.

Novanta 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.