A number of other research firms have also recently weighed in on NOVT. StockNews.com assumed coverage on Novanta in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research raised Novanta from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a report on Friday, May 13th. Finally, William Blair upgraded Novanta from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 11th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $135.00.
NOVT opened at $126.52 on Wednesday. The business’s fifty day moving average is $129.60 and its two-hundred day moving average is $143.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.29 and a current ratio of 2.05. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 78.10 and a beta of 1.11. Novanta has a one year low of $114.31 and a one year high of $184.44.
A number of institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Novanta during the fourth quarter worth about $161,145,000. Ardevora Asset Management LLP acquired a new stake in Novanta during the fourth quarter worth about $62,587,000. Champlain Investment Partners LLC acquired a new stake in Novanta during the first quarter worth about $46,994,000. Norges Bank acquired a new stake in Novanta during the fourth quarter worth about $54,935,000. Finally, Capital International Investors increased its stake in Novanta by 42.4% during the fourth quarter. Capital International Investors now owns 1,011,187 shares of the technology company’s stock worth $178,303,000 after acquiring an additional 301,204 shares during the last quarter. Hedge funds and other institutional investors own 94.10% of the company’s stock.
About Novanta (Get Rating)
Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and 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.
- Get a free copy of the StockNews.com research report on Novanta (NOVT)
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