Novanta Inc. $NOVT Shares Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd significantly increased its holdings in Novanta Inc., acquiring an additional 4,322 shares, bringing their total to 6,692 shares worth approximately $856,000.
• Several institutional investors adjusted their positions in Novanta, with cumulative ownership now at 98.35% of the company's stock.
• Novanta's stock currently has an average rating of "Hold," with analysts recently lowering the target price from $139 to $133.

Dynamic Technology Lab Private Ltd grew its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 182.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,692 shares of the technology company's stock after acquiring an additional 4,322 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Novanta were worth $856,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in shares of Novanta by 1,426.7% during the first quarter. Parallel Advisors LLC now owns 229 shares of the technology company's stock valued at $29,000 after acquiring an additional 214 shares in the last quarter. SVB Wealth LLC purchased a new stake in Novanta in the first quarter valued at approximately $48,000. GAMMA Investing LLC boosted its position 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 boosted its position 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 boosted its position 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. Institutional investors and hedge funds own 98.35% of the company's stock.

Novanta Stock Performance

Novanta stock traded down $3.44 during mid-day trading on Friday, hitting $114.53. The company had a trading volume of 199,544 shares, compared to its average volume of 317,101. The company has a current ratio of 2.54, a quick ratio of 1.62 and a debt-to-equity ratio of 0.57. Novanta Inc. has a 12-month low of $98.76 and a 12-month high of $184.11. The company's fifty day moving average is $120.66 and its 200-day moving average is $123.79. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 67.37 and a beta of 1.50.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.76 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 business had revenue of $241.05 million for the quarter, compared to analyst estimates of $237.97 million. During the same quarter in the prior year, the firm posted $0.73 EPS. The business's quarterly 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. Equities research analysts predict that Novanta Inc. will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.