Hsbc Holdings PLC Sells 167 Shares of Novanta Inc. (NASDAQ:NOVT)

Hsbc Holdings PLC trimmed its position in shares of Novanta Inc. (NASDAQ:NOVT) by 6.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,279 shares of the technology company’s stock after selling 167 shares during the quarter. Hsbc Holdings PLC’s holdings in Novanta were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in shares of Novanta during the fourth quarter valued at approximately $26,000. Huntington National Bank boosted its position in shares of Novanta by 53.6% during the 4th quarter. Huntington National Bank now owns 430 shares of the technology company’s stock valued at $66,000 after acquiring an additional 150 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Novanta in the fourth quarter worth about $97,000. Venturi Wealth Management LLC lifted its stake in Novanta by 6,500.0% during the fourth quarter. Venturi Wealth Management LLC now owns 726 shares of the technology company’s stock worth $111,000 after purchasing an additional 715 shares during the period. Finally, KBC Group NV boosted its holdings in Novanta by 41.6% during the fourth quarter. KBC Group NV now owns 1,500 shares of the technology company’s stock valued at $229,000 after purchasing an additional 441 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Trading Up 2.5 %

NOVT opened at $121.91 on Friday. Novanta Inc. has a 1-year low of $98.76 and a 1-year high of $187.12. The stock has a market capitalization of $4.38 billion, a PE ratio of 73.00 and a beta of 1.51. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $124.00 and a two-hundred day moving average price of $146.36.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The business had revenue of $233.37 million during the quarter, compared to the consensus estimate of $233.34 million. During the same period in the previous year, the firm posted $0.74 earnings per share. Novanta’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Robert W. Baird cut their target price on Novanta from $169.00 to $160.00 and set a “neutral” rating for the company in a research 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.