Baillie Gifford & Co. Has $14.43 Million Holdings in FARO Technologies, Inc. (FARO)

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Baillie Gifford & Co. boosted its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 354,985 shares of the scientific and technical instruments company’s stock after purchasing an additional 12,377 shares during the period. Baillie Gifford & Co.’s holdings in FARO Technologies were worth $14,426,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. MetLife Investment Advisors LLC raised its stake in FARO Technologies by 54.2% during the third quarter. MetLife Investment Advisors LLC now owns 12,092 shares of the scientific and technical instruments company’s stock worth $778,000 after purchasing an additional 4,251 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in FARO Technologies by 4.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 27,630 shares of the scientific and technical instruments company’s stock worth $1,778,000 after purchasing an additional 1,254 shares during the period. Vanguard Group Inc. raised its stake in FARO Technologies by 2.6% during the third quarter. Vanguard Group Inc. now owns 1,728,790 shares of the scientific and technical instruments company’s stock worth $111,248,000 after purchasing an additional 43,084 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in FARO Technologies by 3,247.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 431,827 shares of the scientific and technical instruments company’s stock worth $27,787,000 after purchasing an additional 418,927 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in FARO Technologies by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 192,290 shares of the scientific and technical instruments company’s stock worth $12,373,000 after purchasing an additional 6,421 shares during the period. 95.09% of the stock is currently owned by institutional investors.

A number of brokerages have commented on FARO. Zacks Investment Research raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. BidaskClub downgraded shares of FARO Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine downgraded shares of FARO Technologies from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Gabelli downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating and set a $43.77 price target on the stock. in a research note on Thursday, February 21st. Finally, Craig Hallum downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, February 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.95.

FARO Technologies stock opened at $45.21 on Friday. The company has a market capitalization of $778.84 million, a PE ratio of 98.28 and a beta of 1.52. FARO Technologies, Inc. has a 1 year low of $37.58 and a 1 year high of $70.20.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings results on Tuesday, February 19th. The scientific and technical instruments company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). The company had revenue of $112.84 million during the quarter, compared to analysts’ expectations of $118.59 million. FARO Technologies had a net margin of 1.22% and a return on equity of 3.21%. FARO Technologies’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. As a group, sell-side analysts anticipate that FARO Technologies, Inc. will post 1.45 earnings per share for the current fiscal year.

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About FARO Technologies

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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