LPL Financial LLC Has $2.42 Million Stock Position in Novanta Inc. $NOVT

Key Points

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LPL Financial LLC lowered its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 12.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,912 shares of the technology company's stock after selling 2,625 shares during the period. LPL Financial LLC owned approximately 0.05% of Novanta worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of NOVT. Parallel Advisors LLC lifted its holdings 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 valued at $29,000 after purchasing an additional 214 shares in the last quarter. Johnson Financial Group Inc. lifted its holdings 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 lifted its holdings in shares of Novanta by 146.0% during the 1st quarter. GAMMA Investing LLC now owns 401 shares of the technology company's stock valued at $51,000 after purchasing an additional 238 shares in the last quarter. CWM LLC lifted its holdings in shares of Novanta by 329.8% during the 1st quarter. CWM LLC now owns 404 shares of the technology company's stock valued at $52,000 after purchasing an additional 310 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Novanta by 80.0% during the 1st quarter. Signaturefd LLC now owns 414 shares of the technology company's stock valued at $53,000 after purchasing an additional 184 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

NOVT has been the topic of several recent analyst reports. Robert W. Baird cut their price objective 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, Novanta presently has an average rating of "Hold" and a consensus price target of $133.00.

Novanta Stock Up 6.1%

NASDAQ NOVT traded up $7.0050 during trading on Friday, hitting $122.5850. The stock had a trading volume of 175,981 shares, compared to its average volume of 291,217. The company has a market capitalization of $4.41 billion, a PE ratio of 72.11 and a beta of 1.48. The company's 50-day moving average price is $123.92 and its two-hundred day moving average price is $127.31. 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 12 month low of $98.76 and a 12 month high of $186.75.

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, beating the consensus estimate of $0.74 by $0.02. The firm had revenue of $241.05 million for the quarter, compared to analysts' expectations of $237.97 million. Novanta had a return on equity of 14.70% and a net margin of 6.41%.The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. 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, sell-side 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.