Dimensional Fund Advisors LP Has $107.83 Million Stake in Novanta Inc. (NASDAQ:NOVT)

Posted by Defense World Staff on Sep 8th, 2023

Dimensional Fund Advisors LP increased its position in Novanta Inc. (NASDAQ:NOVT – Free Report) by 2.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 677,835 shares of the technology company’s stock after acquiring an additional 17,235 shares during the period. Dimensional Fund Advisors LP’s holdings in Novanta were worth $107,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOVT. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Novanta by 24.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,120 shares of the technology company’s stock worth $10,042,000 after acquiring an additional 12,573 shares in the last quarter. FORA Capital LLC acquired a new position in Novanta during the fourth quarter valued at approximately $263,000. Heritage Wealth Management LLC grew its holdings in Novanta by 100.0% during the fourth quarter. Heritage Wealth Management LLC now owns 470 shares of the technology company’s stock valued at $64,000 after purchasing an additional 235 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Novanta by 0.5% in the first quarter. Principal Financial Group Inc. now owns 141,602 shares of the technology company’s stock valued at $22,527,000 after purchasing an additional 767 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of Novanta by 1.3% in the first quarter. Conestoga Capital Advisors LLC now owns 1,417,964 shares of the technology company’s stock worth $225,584,000 after buying an additional 18,207 shares during the last quarter. Institutional investors own 96.84% of the company’s stock.

Novanta Stock Down 1.8 %

Shares of NOVT stock opened at $160.78 on Friday. Novanta Inc. has a 12 month low of $111.02 and a 12 month high of $187.60. The company has a quick ratio of 1.85, a current ratio of 3.05 and a debt-to-equity ratio of 0.64. The firm has a market cap of $5.76 billion, a PE ratio of 75.13 and a beta of 1.28. The stock has a 50 day moving average of $168.24 and a 200-day moving average of $162.56.

Novanta (NASDAQ:NOVT – Get Free Report) last announced its earnings results on Tuesday, August 8th. The technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. Novanta had a net margin of 8.64% and a return on equity of 19.05%. The business had revenue of $229.46 million for the quarter, compared to analyst estimates of $225.50 million. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Novanta’s revenue was up 6.6% compared to the same quarter last year. On average, equities analysts predict that Novanta Inc. will post 3.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NOVT. StockNews.com initiated coverage on shares of Novanta in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Robert W. Baird raised their price target on Novanta from $150.00 to $161.00 in a research report on Thursday, May 11th.

Get Our Latest Analysis on NOVT

Novanta Company Profile

(Free Report)

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion in the United States and internationally. The company operates through three segments: Photonics, Vision, and Precision Motion. The Photonics segment offers photonics-based solutions, including laser scanning, beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products serving photonics-based applications for industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.