Capital Fund Management S.A. Invests $1.64 Million 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. bought a new position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,849 shares of the technology company's stock, valued at approximately $1,643,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. First Trust Advisors LP raised its holdings in Novanta by 22.8% during the 4th quarter. First Trust Advisors LP now owns 5,909 shares of the technology company's stock worth $903,000 after buying an additional 1,096 shares during the period. Stifel Financial Corp raised its holdings in shares of Novanta by 27.6% during the fourth quarter. Stifel Financial Corp now owns 9,577 shares of the technology company's stock valued at $1,463,000 after acquiring an additional 2,071 shares during the period. Susquehanna International Group LLP raised its holdings in shares of Novanta by 816.9% during the fourth quarter. Susquehanna International Group LLP now owns 15,335 shares of the technology company's stock valued at $2,343,000 after acquiring an additional 17,474 shares during the period. Pinebridge Investments L.P. raised its holdings in shares of Novanta by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 14,354 shares of the technology company's stock valued at $2,193,000 after acquiring an additional 4,293 shares during the period. Finally, Johnson Financial Group Inc. raised its holdings in shares of Novanta by 482.1% during the fourth quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock valued at $49,000 after acquiring an additional 270 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Stock Down 1.4%

Novanta stock traded down $1.66 during trading hours on Friday, hitting $116.41. The company had a trading volume of 398,925 shares, compared to its average volume of 470,122. The firm has a market capitalization of $4.19 billion, a P/E ratio of 68.48 and a beta of 1.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.62. The firm's fifty day moving average is $123.48 and its 200-day moving average is $125.82. Novanta Inc. has a fifty-two week low of $98.76 and a fifty-two week high of $186.14.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on NOVT shares. Wall Street Zen downgraded shares of Novanta from a "buy" rating to a "hold" rating in a research note on Monday, August 11th. Robert W. Baird cut their target price 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. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Novanta currently has a consensus 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.