Proficio Capital Partners LLC Makes New Investment in Novanta Inc. (NASDAQ:NOVT)

Proficio Capital Partners LLC purchased a new stake in shares of Novanta Inc. (NASDAQ:NOVT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 34,679 shares of the technology company’s stock, valued at approximately $5,298,000. Proficio Capital Partners LLC owned 0.10% of Novanta at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. KBC Group NV grew its holdings in Novanta by 14.9% during the 3rd 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. Nicolet Advisory Services LLC lifted its position in shares of Novanta by 5.9% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,502 shares of the technology company’s stock worth $430,000 after purchasing an additional 139 shares during the period. M&T Bank Corp boosted its stake in shares of Novanta by 4.5% during the third quarter. M&T Bank Corp now owns 3,619 shares of the technology company’s stock valued at $647,000 after purchasing an additional 155 shares in the last quarter. Empowered Funds LLC purchased a new position in Novanta during the fourth quarter valued at approximately $26,000. Finally, Van ECK Associates Corp increased its holdings in Novanta by 28.4% during the third quarter. Van ECK Associates Corp now owns 963 shares of the technology company’s stock valued at $166,000 after buying an additional 213 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their target price on Novanta from $169.00 to $160.00 and set a “neutral” rating for the company in a report on Monday.

Novanta Price Performance

Shares of NOVT stock opened at $143.37 on Tuesday. The stock’s 50-day moving average is $148.44 and its 200 day moving average is $163.96. Novanta Inc. has a 1-year low of $137.91 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 company has a market cap of $5.16 billion, a P/E ratio of 85.85 and a beta of 1.28.

Novanta (NASDAQ:NOVT) last released its quarterly 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. The business had revenue of $238.10 million for the quarter, compared to analysts’ expectations of $240.29 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. Research analysts predict that Novanta Inc. will post 3.03 earnings per share 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.