Thrivent Financial for Lutherans Purchases 72 Shares of Novanta Inc. (NASDAQ:NOVT)

Thrivent Financial for Lutherans grew its stake in Novanta Inc. (NASDAQ:NOVT – Get Rating) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,506 shares of the technology company’s stock after purchasing an additional 72 shares during the period. Thrivent Financial for Lutherans’ holdings in Novanta were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. California Public Employees Retirement System boosted its stake in shares of Novanta by 18.9% in the 4th quarter. California Public Employees Retirement System now owns 137,065 shares of the technology company’s stock valued at $18,623,000 after purchasing an additional 21,828 shares in the last quarter. Swiss National Bank boosted its stake in shares of Novanta by 1.5% in the 4th quarter. Swiss National Bank now owns 86,000 shares of the technology company’s stock valued at $11,685,000 after purchasing an additional 1,300 shares in the last quarter. Aubrey Capital Management Ltd acquired a new stake in shares of Novanta in the 4th quarter valued at approximately $2,133,000. Arizona State Retirement System boosted its stake in shares of Novanta by 3.6% in the 4th quarter. Arizona State Retirement System now owns 10,057 shares of the technology company’s stock valued at $1,366,000 after purchasing an additional 354 shares in the last quarter. Finally, Knowledge Leaders Capital LLC acquired a new stake in shares of Novanta in the 4th quarter valued at approximately $507,000. 97.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOVT. Robert W. Baird lifted their target price on shares of Novanta from $150.00 to $161.00 in a research report on Thursday, May 11th. StockNews.com downgraded shares of Novanta from a “buy” rating to a “hold” rating in a research report on Saturday.

Novanta Stock Up 0.6 %

NASDAQ:NOVT opened at $167.35 on Tuesday. The firm’s 50 day simple moving average is $155.89 and its 200 day simple moving average is $153.09. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.84 and a quick ratio of 1.67. Novanta Inc. has a one year low of $110.84 and a one year high of $173.10. The company has a market cap of $5.99 billion, a PE ratio of 81.63 and a beta of 1.30.

Novanta (NASDAQ:NOVT – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $219.10 million for the quarter, compared to the consensus estimate of $211.22 million. Novanta had a net margin of 8.39% and a return on equity of 19.70%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 EPS. On average, research analysts anticipate that Novanta Inc. will post 3.1 earnings per share for the current year.

Novanta Company Profile

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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.