Novanta Inc. $NOVT Shares Purchased by Advantage Alpha Capital Partners LP

Key Points

• Advantage Alpha Capital Partners LP increased its holdings in Novanta Inc. by 163.8%, owning 38,823 shares valued at approximately $4.96 million at the end of the recent reporting period.
• Novanta reported earnings of $0.76 EPS, exceeding consensus estimates of $0.74 by $0.02, and revenue of $241.05 million for the quarter, marking a 2.2% increase from the previous year.
• Several analysts have downgraded Novanta's stock rating, with a current consensus rating of "Hold" and an average target price of $133.00.

Advantage Alpha Capital Partners LP increased its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 163.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,823 shares of the technology company's stock after purchasing an additional 24,107 shares during the quarter. Advantage Alpha Capital Partners LP owned approximately 0.11% of Novanta worth $4,964,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of Novanta by 1,426.7% during the 1st quarter. Parallel Advisors LLC now owns 229 shares of the technology company's stock worth $29,000 after purchasing an additional 214 shares during the last quarter. Johnson Financial Group Inc. raised its stake in Novanta by 482.1% in the fourth quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock valued at $49,000 after buying an additional 270 shares during the last quarter. GAMMA Investing LLC raised its stake in Novanta by 146.0% in the first quarter. GAMMA Investing LLC now owns 401 shares of the technology company's stock valued at $51,000 after buying an additional 238 shares during the last quarter. CWM LLC raised its stake in Novanta by 329.8% in the first quarter. CWM LLC now owns 404 shares of the technology company's stock valued at $52,000 after buying an additional 310 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Novanta by 80.0% in the first quarter. Signaturefd LLC now owns 414 shares of the technology company's stock valued at $53,000 after buying an additional 184 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen cut Novanta from a "buy" rating to a "hold" rating in a research note on Monday, August 11th. Robert W. Baird decreased their price target on Novanta from $139.00 to $133.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $133.00.

Novanta Stock Performance

Shares of NASDAQ:NOVT traded up $7.39 during trading on Friday, hitting $122.97. The stock had a trading volume of 326,560 shares, compared to its average volume of 424,230. Novanta Inc. has a 12-month low of $98.76 and a 12-month high of $186.75. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 72.34 and a beta of 1.48. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $123.93 and a two-hundred day simple moving average of $126.84.

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

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.