Empowered Funds LLC Acquires Shares of 172 Novanta Inc. (NASDAQ:NOVT)

Empowered Funds LLC bought a new position in shares of Novanta Inc. (NASDAQ:NOVT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 172 shares of the technology company’s stock, valued at approximately $26,000.

Several other institutional investors have also modified their holdings of NOVT. GHP Investment Advisors Inc. acquired a new stake in Novanta during the 3rd quarter valued at approximately $49,000. Van ECK Associates Corp boosted its stake in shares of Novanta by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 963 shares of the technology company’s stock valued at $166,000 after buying an additional 213 shares during the last quarter. KBC Group NV grew its position in shares of Novanta by 14.9% during the third quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock worth $189,000 after buying an additional 137 shares in the last quarter. Associated Banc Corp bought a new stake in shares of Novanta in the third quarter worth $209,000. Finally, Hardy Reed LLC acquired a new stake in Novanta in the third quarter valued at $211,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Novanta Stock Down 1.6 %

NASDAQ:NOVT opened at $140.51 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 84.14 and a beta of 1.28. Novanta Inc. has a one year low of $139.78 and a one year high of $187.12. The stock has a 50-day simple moving average of $150.14 and a 200 day simple moving average of $165.24.

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.