EntryPoint Capital LLC Invests $510,000 in Novanta Inc. (NASDAQ:NOVT)

EntryPoint Capital LLC bought a new position in shares of Novanta Inc. (NASDAQ:NOVT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,340 shares of the technology company’s stock, valued at approximately $510,000.

Other hedge funds have also added to or reduced their stakes in the company. WCM Investment Management LLC acquired a new stake in shares of Novanta during the fourth quarter worth $15,104,000. Franklin Resources Inc. raised its stake in Novanta by 61.6% in the 3rd quarter. Franklin Resources Inc. now owns 214,893 shares of the technology company’s stock worth $37,916,000 after purchasing an additional 81,942 shares in the last quarter. Geneva Capital Management LLC boosted its holdings in Novanta by 9.3% in the 4th quarter. Geneva Capital Management LLC now owns 852,638 shares of the technology company’s stock valued at $130,257,000 after purchasing an additional 72,592 shares during the period. Vanguard Group Inc. boosted its holdings in Novanta by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,123,828 shares of the technology company’s stock valued at $629,997,000 after purchasing an additional 62,585 shares during the period. Finally, Telemark Asset Management LLC grew its position in shares of Novanta by 60.0% during the 4th quarter. Telemark Asset Management LLC now owns 160,000 shares of the technology company’s stock worth $24,443,000 after purchasing an additional 60,000 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Price Performance

NOVT stock opened at $137.51 on Tuesday. The company’s 50-day moving average price is $144.13 and its two-hundred day moving average price is $159.50. The firm has a market cap of $4.94 billion, a P/E ratio of 82.34 and a beta of 1.34. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. Novanta Inc. has a 12 month low of $131.03 and a 12 month high of $187.12.

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

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their target price 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 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.