Axiom Investors LLC DE Has $9.54 Million Position in Novanta Inc. (NASDAQ:NOVT)

Axiom Investors LLC DE lessened its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 22.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,432 shares of the technology company’s stock after selling 18,081 shares during the quarter. Axiom Investors LLC DE owned 0.17% of Novanta worth $9,538,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Schroder Investment Management Group increased its position in shares of Novanta by 52.5% during the fourth quarter. Schroder Investment Management Group now owns 271,583 shares of the technology company’s stock worth $41,359,000 after acquiring an additional 93,511 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Novanta by 1.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 127,604 shares of the technology company’s stock valued at $19,494,000 after purchasing an additional 1,662 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Novanta during the 4th quarter worth approximately $1,392,000. Norges Bank bought a new stake in Novanta during the 4th quarter worth approximately $48,442,000. Finally, Blair William & Co. IL raised its stake in shares of Novanta by 2.4% in the fourth quarter. Blair William & Co. IL now owns 448,434 shares of the technology company’s stock worth $68,507,000 after purchasing an additional 10,459 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Novanta Stock Performance

Shares of NOVT stock opened at $129.08 on Monday. Novanta Inc. has a one year low of $128.16 and a one year high of $187.12. The company has a market cap of $4.64 billion, a P/E ratio of 77.29 and a beta of 1.34. The firm has a 50-day moving average of $142.91 and a 200-day moving average of $158.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.79 and a quick ratio of 1.81.

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