Johnson Financial Group Inc. Has $49,000 Stock Holdings in Novanta Inc. (NASDAQ:NOVT)

Johnson Financial Group Inc. lifted its stake in Novanta Inc. (NASDAQ:NOVT) by 482.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 326 shares of the technology company’s stock after acquiring an additional 270 shares during the quarter. Johnson Financial Group Inc.’s holdings in Novanta were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Novanta in the fourth quarter worth $48,442,000. T. Rowe Price Investment Management Inc. boosted its holdings in Novanta by 69.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 680,169 shares of the technology company’s stock worth $103,910,000 after purchasing an additional 279,793 shares in the last quarter. WCM Investment Management LLC bought a new stake in Novanta in the fourth quarter worth $15,104,000. Schroder Investment Management Group boosted its holdings in Novanta by 52.5% in the fourth quarter. Schroder Investment Management Group now owns 271,583 shares of the technology company’s stock worth $41,359,000 after purchasing an additional 93,511 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Novanta by 61.6% in the third 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. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Stock Down 1.0 %

NOVT stock opened at $118.55 on Tuesday. 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 Inc. has a 52-week low of $98.76 and a 52-week high of $187.12. The company has a 50-day moving average of $127.90 and a two-hundred day moving average of $149.13. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 70.99 and a beta of 1.42.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Tuesday, February 25th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company had revenue of $238.10 million during the quarter, compared to analysts’ expectations of $240.29 million. During the same period in the prior year, the company earned $0.63 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Novanta Inc. will post 3.03 EPS for the current year.

Analyst Ratings Changes

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

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.