EntryPoint Capital LLC Purchases 2,141 Shares of Novanta Inc. $NOVT

Key Points

• EntryPoint Capital LLC increased its stake in Novanta Inc. by 64.1%, acquiring an additional 2,141 shares, bringing its total holdings to 5,481 shares valued at about $701,000.
• Novanta reported earnings of $0.76 per share for the last quarter, exceeding analyst estimates of $0.74, with revenues of $241.05 million, marking a 2.2% increase year-over-year.
• According to recent analyst reports, Novanta's average rating is currently a "Hold" with a consensus price target of $133.00, lower than its previous target of $139.00.

EntryPoint Capital LLC raised its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 64.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,481 shares of the technology company's stock after buying an additional 2,141 shares during the period. Novanta makes up 0.3% of EntryPoint Capital LLC's portfolio, making the stock its 24th biggest position. EntryPoint Capital LLC's holdings in Novanta were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Parallel Advisors LLC raised its stake in shares of Novanta by 1,426.7% in the 1st quarter. Parallel Advisors LLC now owns 229 shares of the technology company's stock worth $29,000 after buying an additional 214 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of Novanta by 482.1% during the 4th quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company's stock valued at $49,000 after purchasing an additional 270 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Novanta by 146.0% in the 1st quarter. GAMMA Investing LLC now owns 401 shares of the technology company's stock worth $51,000 after purchasing an additional 238 shares in the last quarter. CWM LLC lifted its stake in Novanta by 329.8% during the first quarter. CWM LLC now owns 404 shares of the technology company's stock valued at $52,000 after purchasing an additional 310 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Novanta by 80.0% during the first quarter. Signaturefd LLC now owns 414 shares of the technology company's stock valued at $53,000 after purchasing an additional 184 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NOVT shares. Robert W. Baird dropped 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 downgraded Novanta from a "buy" rating to a "hold" rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $133.00.

Novanta Stock Down 1.7%

Novanta stock traded down $2.09 during mid-day trading on Monday, hitting $120.88. The company's stock had a trading volume of 48,176 shares, compared to its average volume of 290,727. 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 52-week low of $98.76 and a 52-week high of $186.75. The firm's 50 day moving average is $123.93 and its 200 day moving average is $126.84. The company has a market cap of $4.35 billion, a PE ratio of 71.10 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 net margin of 6.41% and a return on equity of 14.70%. The business had revenue of $241.05 million during the quarter, compared to analyst estimates of $237.97 million. During the same period in the prior year, the firm earned $0.73 earnings per share. The firm'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, analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current year.

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.