State of Tennessee Treasury Department Purchases 2,457 Shares of FARO Technologies, Inc. (FARO)

State of Tennessee Treasury Department boosted its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 17.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,283 shares of the scientific and technical instruments company’s stock after buying an additional 2,457 shares during the period. State of Tennessee Treasury Department owned 0.10% of FARO Technologies worth $582,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can increased its stake in FARO Technologies by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 23,154 shares of the scientific and technical instruments company’s stock valued at $827,000 after buying an additional 1,429 shares during the period. Fisher Asset Management LLC increased its stake in FARO Technologies by 35.4% in the first quarter. Fisher Asset Management LLC now owns 49,736 shares of the scientific and technical instruments company’s stock valued at $1,778,000 after buying an additional 12,998 shares during the period. Louisiana State Employees Retirement System increased its stake in FARO Technologies by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 6,800 shares of the scientific and technical instruments company’s stock valued at $243,000 after buying an additional 100 shares during the period. Teachers Advisors LLC increased its stake in FARO Technologies by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 29,538 shares of the scientific and technical instruments company’s stock valued at $1,063,000 after buying an additional 234 shares during the period. Finally, Vident Investment Advisory LLC increased its stake in FARO Technologies by 19.7% in the fourth quarter. Vident Investment Advisory LLC now owns 70,482 shares of the scientific and technical instruments company’s stock valued at $2,537,000 after buying an additional 11,609 shares during the period. 93.59% of the stock is currently owned by institutional investors.

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

FARO Technologies, Inc. (NASDAQ:FARO) opened at 36.20 on Wednesday. The firm’s 50-day moving average price is $35.85 and its 200 day moving average price is $36.14. FARO Technologies, Inc. has a one year low of $29.00 and a one year high of $40.15. The firm has a market capitalization of $604.25 million, a P/E ratio of 92.82 and a beta of 1.23.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Tuesday, May 9th. The scientific and technical instruments company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.14. FARO Technologies had a net margin of 1.98% and a return on equity of 1.92%. The firm had revenue of $81.60 million for the quarter, compared to analyst estimates of $77.74 million. During the same period last year, the company earned $0.19 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that FARO Technologies, Inc. will post $0.55 earnings per share for the current fiscal year.

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Several research firms recently weighed in on FARO. ValuEngine raised FARO Technologies from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Zacks Investment Research downgraded FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective (up previously from $35.00) on shares of FARO Technologies in a report on Friday, February 24th. Noble Financial reissued a “buy” rating on shares of FARO Technologies in a report on Saturday, May 13th. Finally, Canaccord Genuity reissued a “buy” rating on shares of FARO Technologies in a report on Thursday, May 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. FARO Technologies presently has a consensus rating of “Buy” and an average price target of $38.67.

About FARO Technologies

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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