3,340 Shares in Novanta Inc. (NASDAQ:NOVT) Bought by EntryPoint Capital LLC

EntryPoint Capital LLC bought a new position in shares of Novanta Inc. (NASDAQ:NOVT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 3,340 shares of the technology company’s stock, valued at approximately $510,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. WCM Investment Management LLC bought a new position in shares of Novanta during the fourth quarter worth about $15,104,000. Franklin Resources Inc. increased its position in Novanta by 61.6% during the 3rd 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. Geneva Capital Management LLC raised its holdings in 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 purchasing an additional 72,592 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Novanta by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,123,828 shares of the technology company’s stock worth $629,997,000 after purchasing an additional 62,585 shares during the period. Finally, Telemark Asset Management LLC boosted its stake in shares of Novanta by 60.0% in the 4th quarter. Telemark Asset Management LLC now owns 160,000 shares of the technology company’s stock valued at $24,443,000 after purchasing an additional 60,000 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

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 for the company in a research note on Monday, March 3rd.

Novanta Stock Up 3.0 %

Shares of Novanta stock opened at $137.51 on Tuesday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 82.34 and a beta of 1.34. The stock’s 50-day moving average is $144.13 and its 200 day moving average is $159.50. 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 Inc. has a one year low of $131.03 and a one year high of $187.12.

Novanta (NASDAQ:NOVT) last posted its quarterly 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. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The business had revenue of $238.10 million for the quarter, compared to the consensus estimate of $240.29 million. During the same period in the prior year, the business earned $0.63 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts anticipate that Novanta Inc. will post 3.03 EPS for the current year.

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.