Capital Fund Management S.A. Makes New $1.64 Million Investment in Novanta Inc. $NOVT

Key Points

• Capital Fund Management S.A. acquired a new position in Novanta Inc. by purchasing 12,849 shares valued at approximately $1,643,000.
• Several institutional investors, including Conestoga Capital Advisors and Geneva Capital Management, increased their stakes in Novanta, highlighting significant interest from institutional investors who now own 98.35% of the company's stock.
• Novanta reported earnings of $0.76 EPS for the last quarter, exceeding estimates, with revenue of $241.05 million, marking a 2.2% year-over-year increase.

Capital Fund Management S.A. acquired a new stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 12,849 shares of the technology company's stock, valued at approximately $1,643,000.

Several other hedge funds also recently made changes to their positions in the company. State of Michigan Retirement System boosted its position in shares of Novanta by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company's stock valued at $1,100,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Novanta by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the technology company's stock valued at $1,291,000 after buying an additional 100 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Novanta by 4.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,376 shares of the technology company's stock valued at $304,000 after buying an additional 103 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Novanta by 2.6% during the 1st quarter. State of Alaska Department of Revenue now owns 4,201 shares of the technology company's stock valued at $537,000 after buying an additional 105 shares in the last quarter. Finally, State of Wyoming boosted its holdings in shares of Novanta by 4.4% during the 4th quarter. State of Wyoming now owns 2,536 shares of the technology company's stock valued at $387,000 after buying an additional 106 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Novanta Stock Performance

Shares of Novanta stock traded up $0.44 during trading on Thursday, hitting $118.07. 376,836 shares of the company's stock traded hands, compared to its average volume of 459,723. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.62. Novanta Inc. has a 1 year low of $98.76 and a 1 year high of $186.14. The stock has a market capitalization of $4.25 billion, a P/E ratio of 69.45 and a beta of 1.48. The business has a 50-day simple moving average of $123.56 and a 200-day simple moving average of $126.32.

Novanta (NASDAQ:NOVT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.02. The firm had revenue of $241.05 million for the quarter, compared to the consensus estimate of $237.97 million. Novanta had a net margin of 6.41% and a return on equity of 14.70%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 EPS. 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, analysts forecast that Novanta Inc. will post 3.03 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Robert W. Baird dropped their price objective on shares of Novanta from $139.00 to $133.00 and set a "neutral" rating on the stock in a research note 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 research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $133.00.

Novanta Company 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.