D. E. Shaw & Co. Inc. Invests $298,000 in FARO Technologies, Inc. (NASDAQ:FARO)

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D. E. Shaw & Co. Inc. bought a new stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 5,659 shares of the scientific and technical instruments company’s stock, valued at approximately $298,000.

Several other large investors also recently made changes to their positions in FARO. US Bancorp DE raised its holdings in shares of FARO Technologies by 82.7% during the 2nd quarter. US Bancorp DE now owns 1,253 shares of the scientific and technical instruments company’s stock valued at $66,000 after buying an additional 567 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of FARO Technologies during the 1st quarter valued at about $180,000. Bank of Montreal Can raised its holdings in shares of FARO Technologies by 29.1% during the 2nd quarter. Bank of Montreal Can now owns 4,765 shares of the scientific and technical instruments company’s stock valued at $251,000 after buying an additional 1,075 shares during the period. Aperio Group LLC raised its holdings in shares of FARO Technologies by 3.1% during the 2nd quarter. Aperio Group LLC now owns 7,250 shares of the scientific and technical instruments company’s stock valued at $381,000 after buying an additional 216 shares during the period. Finally, AdvisorNet Financial Inc raised its holdings in shares of FARO Technologies by 12.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 7,520 shares of the scientific and technical instruments company’s stock valued at $395,000 after buying an additional 840 shares during the period. Institutional investors and hedge funds own 98.31% of the company’s stock.

FARO stock opened at $47.80 on Friday. The company has a quick ratio of 2.45, a current ratio of 3.16 and a debt-to-equity ratio of 0.04. FARO Technologies, Inc. has a 52-week low of $37.58 and a 52-week high of $57.58. The stock’s 50 day moving average is $50.07 and its two-hundred day moving average is $50.03. The company has a market capitalization of $807.31 million, a PE ratio of 62.92 and a beta of 1.73.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.27. FARO Technologies had a positive return on equity of 3.42% and a negative net margin of 0.75%. The company had revenue of $93.50 million for the quarter, compared to the consensus estimate of $96.32 million. During the same period in the previous year, the business earned $0.07 EPS. FARO Technologies’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that FARO Technologies, Inc. will post 0.25 EPS for the current year.

In other FARO Technologies news, Director John Donofrio sold 2,873 shares of FARO Technologies stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $52.43, for a total transaction of $150,631.39. Following the sale, the director now directly owns 21,075 shares in the company, valued at approximately $1,104,962.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by insiders.

Several brokerages recently commented on FARO. BidaskClub downgraded FARO Technologies from a “sell” rating to a “strong sell” rating in a report on Friday. Zacks Investment Research upgraded FARO Technologies from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Finally, ValuEngine downgraded FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.95.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional (3D) measurement and imaging solutions. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable 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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Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

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