Sei Investments Co. Purchases 5,407 Shares of Novanta Inc. (NASDAQ:NOVT)

Sei Investments Co. grew its position in Novanta Inc. (NASDAQ:NOVT) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 255,641 shares of the technology company’s stock after acquiring an additional 5,407 shares during the quarter. Sei Investments Co.’s holdings in Novanta were worth $39,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in shares of Novanta in the fourth quarter valued at $26,000. SBI Securities Co. Ltd. bought a new position in Novanta during the fourth quarter valued at $97,000. Venturi Wealth Management LLC grew its stake in shares of Novanta by 6,500.0% in the 4th quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company’s stock worth $111,000 after buying an additional 715 shares in the last quarter. Associated Banc Corp bought a new stake in shares of Novanta in the 3rd quarter worth about $209,000. Finally, Hardy Reed LLC purchased a new stake in shares of Novanta during the 3rd quarter valued at about $211,000. Institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Novanta Stock Performance

NASDAQ NOVT opened at $137.51 on Tuesday. The company has a market cap of $4.94 billion, a P/E ratio of 82.34 and a beta of 1.34. The business’s 50 day moving average price is $144.13 and its 200-day moving average price is $159.50. Novanta Inc. has a fifty-two week low of $131.03 and a fifty-two week high of $187.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, February 25th. The technology company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The business had revenue of $238.10 million for the quarter, compared to the consensus estimate of $240.29 million. During the same quarter in the prior 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. Sell-side analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

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.