Natixis Advisors LLC Sells 585 Shares of Novanta Inc. (NASDAQ:NOVT)

Natixis Advisors LLC decreased its position in shares of Novanta Inc. (NASDAQ:NOVT) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,372 shares of the technology company’s stock after selling 585 shares during the period. Natixis Advisors LLC owned approximately 0.07% of Novanta worth $3,876,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NOVT. Empowered Funds LLC bought a new position in shares of Novanta in the fourth quarter worth $26,000. SBI Securities Co. Ltd. bought a new position in Novanta in the fourth quarter valued at about $97,000. Venturi Wealth Management LLC grew its position in Novanta by 6,500.0% in the fourth quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company’s stock valued at $111,000 after acquiring an additional 715 shares during the last quarter. Associated Banc Corp bought a new position in Novanta in the third quarter valued at about $209,000. Finally, Hardy Reed LLC bought a new position in Novanta in the third quarter valued at about $211,000. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

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

Novanta Stock Performance

Shares of NOVT stock opened at $133.52 on Friday. The business’s 50-day moving average price is $144.31 and its 200-day moving average price is $159.85. Novanta Inc. has a 12 month low of $131.03 and a 12 month high of $187.12. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 79.95 and a beta of 1.34. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

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