Captrust Financial Advisors Has $495,000 Stock Position in Novanta Inc. (NASDAQ:NOVT)

Captrust Financial Advisors lowered its position in Novanta Inc. (NASDAQ:NOVT) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,241 shares of the technology company’s stock after selling 135 shares during the quarter. Captrust Financial Advisors’ holdings in Novanta were worth $495,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Novanta in the fourth quarter valued at $48,442,000. T. Rowe Price Investment Management Inc. increased its holdings in Novanta by 69.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 680,169 shares of the technology company’s stock valued at $103,910,000 after buying an additional 279,793 shares during the period. WCM Investment Management LLC acquired a new position in shares of Novanta in the 4th quarter valued at $15,104,000. Schroder Investment Management Group lifted its holdings in shares of Novanta by 52.5% during the 4th quarter. Schroder Investment Management Group now owns 271,583 shares of the technology company’s stock worth $41,359,000 after acquiring an additional 93,511 shares during the period. Finally, Geneva Capital Management LLC lifted its holdings in shares of Novanta by 9.3% during the 4th quarter. Geneva Capital Management LLC now owns 852,638 shares of the technology company’s stock worth $130,257,000 after acquiring an additional 72,592 shares during the period. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their target price on shares of Novanta from $169.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd.

Novanta Trading Up 1.2%

NOVT stock opened at $131.17 on Monday. Novanta Inc. has a 1-year low of $98.76 and a 1-year high of $187.12. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $122.70 and its 200-day moving average is $144.34. The firm has a market cap of $4.72 billion, a P/E ratio of 78.55 and a beta of 1.51.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.68 by $0.06. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business had revenue of $233.37 million for the quarter, compared to analyst estimates of $233.34 million. During the same quarter in the previous year, the firm earned $0.74 EPS. Novanta’s quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

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.