Baillie Gifford & Co. Has $765,000 Stake in Novanta Inc. (NASDAQ:NOVT)

Baillie Gifford & Co. trimmed its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 10.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,006 shares of the technology company’s stock after selling 555 shares during the period. Baillie Gifford & Co.’s holdings in Novanta were worth $765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC bought a new position in Novanta in the 4th quarter valued at $26,000. GHP Investment Advisors Inc. acquired a new stake in shares of Novanta in the 3rd quarter valued at $49,000. nVerses Capital LLC acquired a new stake in shares of Novanta in the 3rd quarter valued at $54,000. Van ECK Associates Corp increased its stake in shares of Novanta by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 963 shares of the technology company’s stock valued at $166,000 after buying an additional 213 shares during the period. Finally, KBC Group NV increased its stake in shares of Novanta by 14.9% in the 3rd quarter. KBC Group NV now owns 1,059 shares of the technology company’s stock valued at $189,000 after buying an additional 137 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Stock Up 0.6 %

NASDAQ NOVT opened at $143.99 on Wednesday. The stock has a fifty day moving average of $152.01 and a 200-day moving average of $165.82. The stock has a market capitalization of $5.17 billion, a P/E ratio of 86.22 and a beta of 1.28. Novanta Inc. has a 52 week low of $140.53 and a 52 week high of $187.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.81 and a current ratio of 2.79.

Analyst Ratings Changes

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