Values First Advisors Inc. Has $254,000 Stake in Novanta Inc. (NASDAQ:NOVT)

Values First Advisors Inc. increased its position in Novanta Inc. (NASDAQ:NOVT) by 34.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,660 shares of the technology company’s stock after buying an additional 427 shares during the period. Values First Advisors Inc.’s holdings in Novanta were worth $254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC grew its position in Novanta by 1.6% in the third quarter. Conestoga Capital Advisors LLC now owns 1,350,651 shares of the technology company’s stock worth $241,658,000 after acquiring an additional 20,825 shares in the last quarter. State Street Corp lifted its stake in shares of Novanta by 2.0% in the 3rd quarter. State Street Corp now owns 1,298,419 shares of the technology company’s stock valued at $232,313,000 after purchasing an additional 24,929 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Novanta by 8.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 793,359 shares of the technology company’s stock worth $119,757,000 after purchasing an additional 58,631 shares in the last quarter. Geneva Capital Management LLC increased its position in Novanta by 1.1% during the third quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company’s stock worth $139,566,000 after buying an additional 8,574 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Novanta by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,390 shares of the technology company’s stock valued at $78,616,000 after buying an additional 4,271 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their price target on Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th.

Novanta Trading Up 0.8 %

Shares of NOVT stock opened at $147.76 on Thursday. Novanta Inc. has a 12 month low of $142.81 and a 12 month high of $187.12. The company has a market cap of $5.31 billion, a PE ratio of 88.48 and a beta of 1.28. 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 business’s 50 day moving average is $153.77 and its two-hundred day moving average is $166.74.

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.