Novanta Inc. $NOVT Shares Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in Novanta Inc. by 39.9% during the first quarter, and now owns nearly 20,000 shares valued at $2.56 million.
• Several institutional investors, including Raymond James and First Trust Advisors, have also adjusted their holdings in Novanta, reflecting growing interest in the company's stock.
• Novanta reported earnings of $0.76 per share, exceeding estimates, with a revenue increase of 2.2% year-over-year, despite its current stock trading down 4.2%.

Quantbot Technologies LP raised its stake in Novanta Inc. (NASDAQ:NOVT - Free Report) by 39.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,999 shares of the technology company's stock after acquiring an additional 5,704 shares during the quarter. Quantbot Technologies LP owned approximately 0.06% of Novanta worth $2,557,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in 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 purchasing an additional 214 shares during the last quarter. Johnson Financial Group Inc. increased its stake in 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 purchasing an additional 270 shares during the last quarter. GAMMA Investing LLC increased its stake 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 purchasing an additional 238 shares during the last quarter. CWM LLC increased its stake 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 purchasing an additional 310 shares during the last quarter. Finally, Signaturefd LLC increased its stake 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 purchasing an additional 184 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Trading Up 0.3%

NOVT stock traded up $0.33 during trading on Tuesday, reaching $119.06. 71,804 shares of the stock traded hands, compared to its average volume of 291,040. The business's 50 day moving average price is $123.82 and its 200-day moving average price is $126.64. Novanta Inc. has a 52-week low of $98.76 and a 52-week high of $186.14. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.62. The firm has a market capitalization of $4.28 billion, a PE ratio of 69.93 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, beating 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 firm had revenue of $241.05 million during the quarter, compared to the consensus estimate of $237.97 million. During the same quarter in the previous year, the business earned $0.73 earnings per share. The firm'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, sell-side analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.