Callan Family Office LLC Makes New Investment in Novanta Inc. (NASDAQ:NOVT)

Callan Family Office LLC purchased a new stake in shares of Novanta Inc. (NASDAQ:NOVT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,045 shares of the technology company’s stock, valued at approximately $465,000.

Several other hedge funds also recently modified their holdings of NOVT. Empowered Funds LLC acquired a new stake in shares of Novanta in the fourth quarter valued at $26,000. SBI Securities Co. Ltd. bought a new position in shares of Novanta during the 4th quarter valued at about $97,000. Venturi Wealth Management LLC boosted 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 purchasing an additional 715 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Novanta by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 963 shares of the technology company’s stock worth $166,000 after purchasing an additional 213 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Novanta by 14.9% in the 3rd quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock worth $189,000 after purchasing an additional 137 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Novanta Stock Performance

NOVT opened at $142.99 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. The firm has a market cap of $5.14 billion, a PE ratio of 85.62 and a beta of 1.34. The business has a fifty day simple moving average of $147.35 and a 200-day simple moving average of $162.88. Novanta Inc. has a fifty-two week low of $136.02 and a fifty-two week high of $187.12.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Tuesday, February 25th. The technology company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm 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%. Novanta’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. As a group, equities analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Novanta Company 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.