Inceptionr LLC Purchases Shares of 12,084 FARO Technologies, Inc. (NASDAQ:FARO)

Inceptionr LLC bought a new position in FARO Technologies, Inc. (NASDAQ:FARO) in the 4th quarter, Holdings Channel reports. The fund bought 12,084 shares of the scientific and technical instruments company’s stock, valued at approximately $306,000.

A number of other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC grew its holdings in FARO Technologies by 13.1% during the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after buying an additional 966 shares in the last quarter. Rhumbline Advisers increased its stake in shares of FARO Technologies by 4.5% during the fourth quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock valued at $793,000 after buying an additional 1,333 shares during the period. Polar Asset Management Partners Inc. increased its holdings in FARO Technologies by 0.4% during the third quarter. Polar Asset Management Partners Inc. now owns 676,796 shares of the scientific and technical instruments company’s stock valued at $12,954,000 after buying an additional 2,700 shares during the period. Bank of New York Mellon Corp raised its holdings in FARO Technologies by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 65,722 shares of the scientific and technical instruments company’s stock worth $1,667,000 after purchasing an additional 3,373 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of FARO Technologies by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 222,559 shares of the scientific and technical instruments company’s stock worth $4,260,000 after purchasing an additional 10,228 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Insiders Place Their Bets

In other news, Director Yuval Wasserman sold 5,658 shares of FARO Technologies stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total transaction of $177,378.30. Following the sale, the director now owns 153,512 shares in the company, valued at approximately $4,812,601.20. The trade was a 3.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on FARO shares. Needham & Company LLC upped their target price on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. StockNews.com upgraded FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Craig Hallum boosted their price objective on FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th.

FARO Technologies Stock Performance

FARO Technologies stock opened at $29.28 on Monday. FARO Technologies, Inc. has a 1-year low of $13.52 and a 1-year high of $33.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. The stock has a market cap of $555.79 million, a price-to-earnings ratio of -83.65 and a beta of 1.55. The firm has a 50 day simple moving average of $29.28 and a 200-day simple moving average of $24.13.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The company had revenue of $93.54 million for the quarter, compared to analysts’ expectations of $91.40 million. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. During the same period in the prior year, the firm earned $0.36 earnings per share.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.