Venturi Wealth Management LLC Grows Position in Novanta Inc. (NASDAQ:NOVT)

Venturi Wealth Management LLC raised its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 6,500.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 726 shares of the technology company’s stock after purchasing an additional 715 shares during the period. Venturi Wealth Management LLC’s holdings in Novanta were worth $111,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Conestoga Capital Advisors LLC grew its holdings in shares of Novanta by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,350,651 shares of the technology company’s stock worth $241,658,000 after purchasing an additional 20,825 shares during the period. State Street Corp grew its stake in Novanta by 2.0% during the third quarter. State Street Corp now owns 1,298,419 shares of the technology company’s stock worth $232,313,000 after buying an additional 24,929 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Novanta by 8.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 793,359 shares of the technology company’s stock worth $119,757,000 after acquiring an additional 58,631 shares in the last quarter. Geneva Capital Management LLC raised its stake in shares of Novanta by 1.1% in the 3rd quarter. Geneva Capital Management LLC now owns 780,046 shares of the technology company’s stock valued at $139,566,000 after acquiring an additional 8,574 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Novanta by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,390 shares of the technology company’s stock valued at $78,616,000 after acquiring an additional 4,271 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Stock Down 1.6 %

Shares of NASDAQ:NOVT opened at $140.51 on Monday. The company has a 50 day moving average of $150.14 and a two-hundred day moving average of $165.22. Novanta Inc. has a 52-week low of $139.78 and a 52-week high of $187.12. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 84.14 and a beta of 1.28.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their price target on Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

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.