Wells Fargo & Company MN Purchases 5,820 Shares of Novanta Inc. (NASDAQ:NOVT)

Wells Fargo & Company MN grew its position in Novanta Inc. ( NASDAQ:NOVT – Free Report ) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC).

The institutional investor owned 68,803 shares of the technology company’s stock after purchasing an additional 5,820 shares during the period. Wells Fargo & Company MN’s holdings in Novanta were worth $10,511,000 at the end of the most recent quarter. A number of other hedge funds have also modified their holdings of the company.



Vanguard Group Inc. boosted its position in Novanta by 1.5% during the fourth quarter.

Vanguard Group Inc. now owns 4,123,828 shares of the technology company’s stock valued at $629,997,000 after purchasing an additional 62,585 shares during the last quarter. Alliancebernstein L.

P. increased its position in Novanta by 6.2% during the 4th quarter.

Alliancebernstein L.P. now owns 1,004,879 shares of the technology company’s stock worth $153,515,000 after buying 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.

Geneva Capital Management LLC grew its holdings in shares of 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 in the last quarter.

Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Novanta by 8.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 793,359 shares of the technology company’s stock worth $119,757,000 after acquiring an additional 58,631 shares in the last quarter.

98.35% of the stock is currently owned by institutional investors. Analyst Upgrades and Downgrades Separately, Robert W.

Baird dropped their price objective 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 Down 0.1 % Shares of NASDAQ:NOVT opened at $114.02 on Thursday.

Novanta Inc. has a 1 year low of $98.76 and a 1 year high of $187.

12. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.

79 and a quick ratio of 1.81. The business’s 50-day moving average is $132.

64 and its 200-day moving average is $152.73. The company has a market capitalization of $4.

10 billion, a price-to-earnings ratio of 68.28 and a beta of 1.42.

Novanta ( NASDAQ:NOVT – Get Free Report ) last released its quarterly earnings data on Tuesday, February 25th. The technology company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.

71 by $0.05. The firm had revenue of $238.

10 million for 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%. The business’s revenue was up 12.

5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share.

Equities research analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

Novanta Company Profile ( Free Report ) 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.

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