5,785 Shares in FARO Technologies, Inc. (FARO) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new position in FARO Technologies, Inc. (NASDAQ:FARO) in the 4th quarter, Holdings Channel reports. The fund purchased 5,785 shares of the scientific and technical instruments company’s stock, valued at approximately $272,000.

Several other large investors have also bought and sold shares of FARO. Municipal Employees Retirement System of Michigan grew its stake in shares of FARO Technologies by 59.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,260 shares of the scientific and technical instruments company’s stock worth $239,000 after acquiring an additional 2,330 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of FARO Technologies by 50.4% in the third quarter. BNP Paribas Arbitrage SA now owns 8,955 shares of the scientific and technical instruments company’s stock worth $343,000 after acquiring an additional 2,999 shares in the last quarter. New England Investment & Retirement Group Inc. acquired a new position in shares of FARO Technologies in the fourth quarter worth $355,000. The Manufacturers Life Insurance Company grew its stake in shares of FARO Technologies by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,292 shares of the scientific and technical instruments company’s stock worth $502,000 after acquiring an additional 154 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of FARO Technologies by 9.2% in the third quarter. Wells Fargo & Company MN now owns 13,692 shares of the scientific and technical instruments company’s stock worth $524,000 after acquiring an additional 1,156 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

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FARO Technologies stock opened at $58.40 on Friday. The company has a market cap of $981.00, a price-to-earnings ratio of 201.38 and a beta of 1.44. FARO Technologies, Inc. has a 12 month low of $31.90 and a 12 month high of $63.90.

FARO Technologies (NASDAQ:FARO) last issued its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.14. The firm had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.31 million. FARO Technologies had a negative net margin of 4.02% and a positive return on equity of 1.39%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. research analysts expect that FARO Technologies, Inc. will post 1.07 earnings per share for the current fiscal year.

Several research firms have commented on FARO. Needham & Company LLC boosted their price target on shares of FARO Technologies to $65.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Zacks Investment Research downgraded shares of FARO Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Craig Hallum restated a “buy” rating and issued a $68.00 price target (up previously from $60.00) on shares of FARO Technologies in a research note on Friday, February 23rd. Canaccord Genuity restated a “buy” rating and issued a $66.00 price target on shares of FARO Technologies in a research note on Thursday, February 22nd. Finally, BidaskClub upgraded shares of FARO Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. FARO Technologies has a consensus rating of “Buy” and a consensus target price of $58.67.

In related news, SVP Jody Storm Gale sold 10,666 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $59.77, for a total transaction of $637,506.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Simon Raab sold 11,700 shares of the business’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $59.93, for a total transaction of $701,181.00. Following the transaction, the insider now owns 38,478 shares of the company’s stock, valued at approximately $2,305,986.54. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

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FARO Technologies Profile

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

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Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

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