William Blair Begins Coverage on Novanta (NOVT)
William Blair started coverage on shares of Novanta (NASDAQ:NOVT) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating on the technology company’s stock. William Blair also issued estimates for Novanta’s Q4 2017 earnings at $0.41 EPS, FY2017 earnings at $1.58 EPS, Q1 2018 earnings at $0.39 EPS, Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $0.46 EPS, Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.52 EPS, FY2018 earnings at $1.89 EPS, FY2018 earnings at $1.90 EPS, FY2019 earnings at $2.16 EPS and FY2019 earnings at $2.15 EPS.
A number of other equities research analysts also recently weighed in on NOVT. BidaskClub downgraded Novanta from a strong-buy rating to a buy rating in a report on Saturday, December 2nd. Robert W. Baird started coverage on Novanta in a report on Thursday, December 7th. They set an outperform rating and a $54.00 target price for the company.
Shares of Novanta (NASDAQ NOVT) opened at $56.50 on Tuesday. Novanta has a twelve month low of $23.75 and a twelve month high of $60.30. The company has a current ratio of 2.93, a quick ratio of 2.00 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1,950.00, a price-to-earnings ratio of 33.63 and a beta of 1.33.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of Novanta by 25.5% during the fourth quarter. Wells Fargo & Company MN now owns 2,302,770 shares of the technology company’s stock worth $115,139,000 after buying an additional 467,585 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Novanta by 8.7% during the fourth quarter. BlackRock Inc. now owns 2,020,420 shares of the technology company’s stock worth $101,020,000 after buying an additional 160,881 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Novanta by 4.6% during the second quarter. Vanguard Group Inc. now owns 1,383,834 shares of the technology company’s stock worth $49,818,000 after buying an additional 60,925 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Novanta by 11.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,117,700 shares of the technology company’s stock worth $55,885,000 after buying an additional 115,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Novanta by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,042,969 shares of the technology company’s stock worth $45,473,000 after buying an additional 11,407 shares in the last quarter. 80.50% of the stock is owned by institutional investors.
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Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.
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