Sei Investments Co. Boosts Holdings in Novanta Inc. (NASDAQ:NOVT)

Sei Investments Co. raised its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 255,641 shares of the technology company’s stock after buying an additional 5,407 shares during the period. Sei Investments Co. owned about 0.71% of Novanta worth $39,054,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NOVT. Empowered Funds LLC purchased a new position in Novanta during the fourth quarter valued at $26,000. SBI Securities Co. Ltd. bought a new position in shares of Novanta in the fourth quarter worth about $97,000. Venturi Wealth Management LLC lifted its position in shares of Novanta by 6,500.0% during the 4th quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company’s stock valued at $111,000 after buying an additional 715 shares in the last quarter. Associated Banc Corp bought a new position in shares of Novanta during the 3rd quarter valued at approximately $209,000. Finally, Hardy Reed LLC purchased a new stake in Novanta in the 3rd quarter worth approximately $211,000. 98.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Novanta Trading Up 3.0 %

Shares of NOVT stock opened at $137.51 on Tuesday. The firm has a market capitalization of $4.94 billion, a PE ratio of 82.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. The stock has a fifty day simple moving average of $144.13 and a two-hundred day simple moving average of $159.50. Novanta Inc. has a 52-week low of $131.03 and a 52-week high of $187.12.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Tuesday, February 25th. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $238.10 million for the quarter, compared to analysts’ expectations of $240.29 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. On average, analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.

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.