Advantage Alpha Capital Partners LP Buys 24,107 Shares of Novanta Inc. $NOVT

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 holdings in Novanta Inc. (NASDAQ:NOVT - Free Report) by 163.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 38,823 shares of the technology company's stock after buying an additional 24,107 shares during the quarter. Advantage Alpha Capital Partners LP owned about 0.11% of Novanta worth $4,964,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Conestoga Capital Advisors LLC lifted its position in shares of Novanta by 1.3% during 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 buying an additional 17,220 shares in the last quarter. Geneva Capital Management LLC lifted its position 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 valued at $119,435,000 after buying an additional 81,397 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position 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 valued at $88,626,000 after buying an additional 12,921 shares in the last quarter. Northern Trust Corp lifted its position in shares of Novanta by 14.0% during the 4th quarter. Northern Trust Corp now owns 487,688 shares of the technology company's stock valued at $74,504,000 after buying an additional 59,986 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Novanta by 1.9% during the 1st quarter. Wellington Management Group LLP now owns 485,196 shares of the technology company's stock valued at $62,042,000 after buying an additional 9,243 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NOVT. Robert W. Baird lowered their price target on Novanta from $139.00 to $133.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. Wall Street Zen cut Novanta from a "buy" rating to a "hold" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $133.00.

Novanta Trading Down 0.7%

Novanta stock traded down $0.84 during mid-day trading on Wednesday, hitting $117.14. The company's stock had a trading volume of 226,299 shares, compared to its average volume of 293,901. Novanta Inc. has a one year low of $98.76 and a one year high of $186.14. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.62 and a current ratio of 2.54. The company has a 50 day moving average of $123.73 and a 200-day moving average of $126.58. The stock has a market cap of $4.21 billion, a PE ratio of 69.04 and a beta of 1.48.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. Novanta had a return on equity of 14.70% and a net margin of 6.41%.The business had revenue of $241.05 million for the quarter, compared to the consensus estimate of $237.97 million. During the same quarter in the prior year, the company earned $0.73 EPS. The business's revenue 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 anticipate that Novanta Inc. will post 3.03 EPS for the current year.

About Novanta

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.