WINTON GROUP Ltd purchased a new position in FARO Technologies, Inc. (NASDAQ:FARO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 138,620 shares of the scientific and technical instruments company’s stock, valued at approximately $8,920,000. WINTON GROUP Ltd owned 0.82% of FARO Technologies at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of FARO. BlackRock Inc. raised its holdings in shares of FARO Technologies by 8.1% in the 2nd quarter. BlackRock Inc. now owns 2,346,813 shares of the scientific and technical instruments company’s stock worth $127,551,000 after purchasing an additional 175,276 shares during the period. Paradice Investment Management LLC raised its holdings in shares of FARO Technologies by 19.8% in the 2nd quarter. Paradice Investment Management LLC now owns 818,070 shares of the scientific and technical instruments company’s stock worth $44,462,000 after purchasing an additional 135,425 shares during the period. Cortina Asset Management LLC bought a new stake in shares of FARO Technologies in the 2nd quarter worth approximately $5,810,000. Royce & Associates LP raised its holdings in FARO Technologies by 8.0% during the 2nd quarter. Royce & Associates LP now owns 620,243 shares of the scientific and technical instruments company’s stock valued at $33,710,000 after acquiring an additional 46,200 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in FARO Technologies by 105.1% during the 2nd quarter. Renaissance Technologies LLC now owns 70,042 shares of the scientific and technical instruments company’s stock valued at $3,807,000 after acquiring an additional 35,900 shares during the period. 93.88% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of FARO Technologies from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research cut shares of FARO Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, July 30th. Craig Hallum boosted their target price on shares of FARO Technologies from $64.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 27th. BidaskClub cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of FARO Technologies in a report on Friday, November 2nd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $64.40.
In other news, COO Kathleen Hall sold 5,921 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $67.54, for a total value of $399,904.34. Following the transaction, the chief operating officer now owns 15,030 shares of the company’s stock, valued at $1,015,126.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Simon Raab sold 700 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $65.14, for a total transaction of $45,598.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,495 shares of company stock worth $6,285,077. Insiders own 3.10% of the company’s stock.
Shares of FARO stock opened at $46.56 on Friday. FARO Technologies, Inc. has a 1 year low of $43.26 and a 1 year high of $70.20. The firm has a market cap of $843.32 million, a price-to-earnings ratio of 70.84 and a beta of 1.68.
FARO Technologies (NASDAQ:FARO) last issued its earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.06). The business had revenue of $99.71 million for the quarter, compared to the consensus estimate of $102.53 million. FARO Technologies had a negative net margin of 2.99% and a positive return on equity of 3.18%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities research analysts forecast that FARO Technologies, Inc. will post 0.6 earnings per share for the current fiscal year.
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FARO Technologies Company Profile
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven, three-dimensional (3D) measurement, imaging, and realization systems. The company offers FaroArm, a combination of six or seven-axis, articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.
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