Baillie Gifford & Co. Has $765,000 Holdings in Novanta Inc. (NASDAQ:NOVT)

Baillie Gifford & Co. cut its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,006 shares of the technology company’s stock after selling 555 shares during the period. Baillie Gifford & Co.’s holdings in Novanta were worth $765,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NOVT. Values First Advisors Inc. grew its stake in Novanta by 34.6% in the fourth quarter. Values First Advisors Inc. now owns 1,660 shares of the technology company’s stock valued at $254,000 after acquiring an additional 427 shares during the period. Allspring Global Investments Holdings LLC grew its stake 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 valued at $119,757,000 after acquiring an additional 58,631 shares during the period. WCM Investment Management LLC acquired a new position in Novanta in the fourth quarter valued at about $15,104,000. Entropy Technologies LP acquired a new position in Novanta in the fourth quarter valued at about $284,000. Finally, Empowered Funds LLC acquired a new position in Novanta in the fourth quarter valued at about $26,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their target price 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 Stock Performance

Shares of Novanta stock opened at $143.99 on Wednesday. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 86.22 and a beta of 1.28. The stock’s 50-day moving average is $152.01 and its 200-day moving average is $165.82. Novanta Inc. has a one year low of $140.53 and a one year high of $187.12. 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 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.