Values First Advisors Inc. Has $254,000 Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Values First Advisors Inc. raised its holdings in Novanta Inc. (NASDAQ:NOVT) by 34.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,660 shares of the technology company’s stock after acquiring an additional 427 shares during the period. Values First Advisors Inc.’s holdings in Novanta were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Novanta by 8.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 793,359 shares of the technology company’s stock worth $119,757,000 after acquiring an additional 58,631 shares during the last quarter. WCM Investment Management LLC bought a new stake in Novanta in the 4th quarter valued at $15,104,000. Entropy Technologies LP bought a new position in shares of Novanta during the 4th quarter worth about $284,000. Empowered Funds LLC acquired a new position in shares of Novanta during the fourth quarter valued at about $26,000. Finally, KBC Group NV raised its position in shares of Novanta by 41.6% during the fourth quarter. KBC Group NV now owns 1,500 shares of the technology company’s stock valued at $229,000 after buying an additional 441 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Novanta Stock Performance

Shares of NASDAQ NOVT opened at $147.76 on Thursday. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 88.48 and a beta of 1.28. Novanta Inc. has a one year low of $142.81 and a one year high of $187.12. The business has a fifty day simple moving average of $153.77 and a 200 day simple moving average of $166.74. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

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.