EntryPoint Capital LLC Has $701,000 Stock Position in 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 grew its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 64.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,481 shares of the technology company's stock after acquiring an additional 2,141 shares during the period. Novanta accounts for 0.3% of EntryPoint Capital LLC's portfolio, making the stock its 24th largest holding. EntryPoint Capital LLC's holdings in Novanta were worth $701,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Novanta by 1,426.7% in 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 during the last quarter. Johnson Financial Group Inc. raised its stake in shares of 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 acquiring an additional 270 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 238 shares during the last quarter. CWM LLC raised its position in Novanta by 329.8% in the 1st quarter. CWM LLC now owns 404 shares of the technology company's stock worth $52,000 after purchasing an additional 310 shares during the last quarter. Finally, Signaturefd LLC raised its position in Novanta by 80.0% in the 1st quarter. Signaturefd LLC now owns 414 shares of the technology company's stock worth $53,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Wall Street Analyst Weigh In

NOVT has been the subject of several research analyst reports. Robert W. Baird dropped their price objective on shares of Novanta from $139.00 to $133.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Wall Street Zen cut shares of Novanta from a "buy" rating to a "hold" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $133.00.

Novanta Trading Up 6.4%

NOVT traded up $7.39 during trading on Friday, reaching $122.97. 326,560 shares of the company's stock were exchanged, compared to its average volume of 416,406. The company's fifty day moving average price is $123.93 and its 200-day moving average price is $127.14. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.62 and a current ratio of 2.54. Novanta Inc. has a fifty-two week low of $98.76 and a fifty-two week high of $186.75. The firm has a market capitalization of $4.42 billion, a PE ratio of 72.34 and a beta of 1.48.

Novanta (NASDAQ:NOVT - Get Free Report) last released its earnings results on Tuesday, August 5th. The technology company reported $0.76 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 firm had revenue of $241.05 million during the quarter, compared to analyst estimates of $237.97 million. During the same quarter in the previous year, the business earned $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. As a group, equities analysts forecast that Novanta Inc. will post 3.03 EPS for the current 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.