10,219 Shares in Novanta Inc. $NOVT Purchased by Jump Financial LLC

Key Points

• Jump Financial LLC acquired 10,219 shares of Novanta Inc. for approximately $1.3 million, marking the firm's entry into the company's stock holdings.
• Novanta reported a quarterly earnings per share of $0.76, exceeding analyst estimates, along with a revenue of $241.05 million, reflecting a 2.2% year-over-year increase.
• Institutional investors own approximately 98.35% of Novanta's stock, indicating strong institutional interest and backing in the company's financials.

Jump Financial LLC bought a new stake in Novanta Inc. (NASDAQ:NOVT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,219 shares of the technology company's stock, valued at approximately $1,307,000.

Several other large investors have also recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC increased its position in Novanta by 1.3% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,365,252 shares of the technology company's stock valued at $174,575,000 after acquiring an additional 17,220 shares during the period. Geneva Capital Management LLC boosted its stake in shares of Novanta by 9.5% during the 1st quarter. Geneva Capital Management LLC now owns 934,035 shares of the technology company's stock worth $119,435,000 after acquiring an additional 81,397 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Novanta by 1.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 693,090 shares of the technology company's stock worth $88,626,000 after acquiring an additional 12,921 shares in the last quarter. Northern Trust Corp boosted its position in shares of Novanta by 14.0% in the fourth quarter. Northern Trust Corp now owns 487,688 shares of the technology company's stock worth $74,504,000 after buying an additional 59,986 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Novanta by 1.9% in the first quarter. Wellington Management Group LLP now owns 485,196 shares of the technology company's stock worth $62,042,000 after buying an additional 9,243 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Novanta Stock Down 1.0%

NASDAQ NOVT traded down $1.14 during trading on Wednesday, hitting $110.95. 23,336 shares of the company traded hands, compared to its average volume of 295,893. Novanta Inc. has a 12 month low of $98.76 and a 12 month high of $184.11. The business has a fifty day simple moving average of $123.07 and a 200 day simple moving average of $125.53. The company has a current ratio of 2.54, a quick ratio of 1.62 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $3.99 billion, a P/E ratio of 65.17 and a beta of 1.50.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. The business had revenue of $241.05 million for the quarter, compared to analyst estimates of $237.97 million. Novanta had a return on equity of 14.70% and a net margin of 6.41%.The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. Novanta has set its FY 2025 guidance at 3.220-3.360 EPS. Q3 2025 guidance at 0.780-0.850 EPS. As a group, sell-side analysts predict that Novanta Inc. will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NOVT shares. Robert W. Baird decreased their target price on Novanta from $139.00 to $133.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Wall Street Zen cut Novanta from a "buy" rating to a "hold" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $133.00.

Novanta Profile

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.