Dynamic Technology Lab Private Ltd Has $362,000 Holdings in Novanta Inc. (NASDAQ:NOVT)

Dynamic Technology Lab Private Ltd increased its stake in Novanta Inc. (NASDAQ:NOVT) by 15.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,370 shares of the technology company’s stock after purchasing an additional 322 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Novanta were worth $362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in 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. State Street Corp increased its holdings in shares of Novanta by 2.0% during the third quarter. State Street Corp now owns 1,298,419 shares of the technology company’s stock worth $232,313,000 after purchasing an additional 24,929 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Novanta by 6.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,004,879 shares of the technology company’s stock worth $153,515,000 after purchasing an additional 58,864 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Novanta by 1.2% during the fourth quarter. William Blair Investment Management LLC now owns 975,841 shares of the technology company’s stock worth $149,079,000 after purchasing an additional 11,361 shares during the period. Finally, Geneva Capital Management LLC increased its holdings in shares of Novanta by 9.3% during the fourth 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 period. Institutional investors own 98.35% of the company’s stock.

Novanta Stock Performance

NASDAQ NOVT opened at $117.84 on Thursday. 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 firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 70.56 and a beta of 1.42. The firm’s 50 day simple moving average is $136.10 and its 200 day simple moving average is $154.75. Novanta Inc. has a 1 year low of $98.76 and a 1 year high of $187.12.

Novanta (NASDAQ:NOVT) last issued its earnings results on Tuesday, February 25th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The firm had revenue of $238.10 million for the quarter, compared to analyst estimates of $240.29 million. During the same quarter last year, the business posted $0.63 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their target price 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 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.