Forte Capital LLC ADV Sells 80 Shares of Novanta Inc. (NASDAQ:NOVT)

Forte Capital LLC ADV reduced its position in Novanta Inc. (NASDAQ:NOVT) by 5.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,525 shares of the technology company’s stock after selling 80 shares during the period. Forte Capital LLC ADV’s holdings in Novanta were worth $233,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Separately, Robert W. Baird decreased their price target 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 Trading Down 1.6 %

Shares of NOVT opened at $140.51 on Friday. The business’s 50-day moving average price is $150.65 and its 200-day moving average price is $165.38. Novanta Inc. has a twelve month low of $139.78 and a twelve month high of $187.12. The stock has a market cap of $5.05 billion, a PE 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.

About Novanta

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.