Daiwa Securities Group Inc. Sells 100 Shares of Novanta Inc. (NASDAQ:NOVT)

Daiwa Securities Group Inc. trimmed its holdings in Novanta Inc. (NASDAQ:NOVT) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,679 shares of the technology company’s stock after selling 100 shares during the period. Daiwa Securities Group Inc.’s holdings in Novanta were worth $1,173,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NOVT. Empowered Funds LLC bought a new stake in Novanta in the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new stake in Novanta in the fourth quarter worth approximately $97,000. Venturi Wealth Management LLC grew its position in Novanta by 6,500.0% in the fourth quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company’s stock worth $111,000 after acquiring an additional 715 shares in the last quarter. KBC Group NV grew its position in Novanta by 14.9% in the third quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock worth $189,000 after acquiring an additional 137 shares in the last quarter. Finally, Associated Banc Corp bought a new stake in Novanta in the third quarter worth approximately $209,000. 98.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their price objective on shares of Novanta from $169.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, March 3rd.

Novanta Price Performance

NASDAQ NOVT opened at $136.07 on Friday. 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 company has a fifty day simple moving average of $145.79 and a 200 day simple moving average of $161.42. The company has a market cap of $4.89 billion, a P/E ratio of 81.48 and a beta of 1.34. Novanta Inc. has a 1 year low of $133.17 and a 1 year high of $187.12.

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