Novanta Inc. $NOVT Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE reduced its position in Novanta Inc. by 39.2%, now holding approximately 0.11% of the company valued at $4,857,000.
• Shares of Novanta opened at $116.10, with a market cap of $4.18 billion and a price-to-earnings ratio of 68.29.
• Equities analysts have generally rated Novanta as a "Hold", with a consensus price target of $133.00 following recent adjustments.

Axiom Investors LLC DE decreased its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 39.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,986 shares of the technology company's stock after selling 24,446 shares during the quarter. Axiom Investors LLC DE owned about 0.11% of Novanta worth $4,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in Novanta by 1,426.7% in 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 during the last quarter. SVB Wealth LLC acquired a new position in Novanta in the 1st quarter valued at about $48,000. GAMMA Investing LLC raised its stake in Novanta by 146.0% in 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 during the last quarter. CWM LLC raised its stake in Novanta by 329.8% in 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 during the last quarter. Finally, Signaturefd LLC raised its stake in Novanta by 80.0% in 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 during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Novanta Trading Down 2.9%

Shares of NASDAQ:NOVT traded down $3.44 during trading on Friday, reaching $114.53. 199,544 shares of the stock were exchanged, compared to its average volume of 335,749. 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 $184.11. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 67.37 and a beta of 1.50. The firm's 50-day moving average price is $120.66 and its 200 day moving average price is $124.12.

Novanta (NASDAQ:NOVT - Get Free Report) last issued its 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 return on equity of 14.70% and a net margin of 6.41%.The business had revenue of $241.05 million during the quarter, compared to analysts' expectations of $237.97 million. During the same quarter in the previous year, the business earned $0.73 EPS. The company's revenue for the quarter was up 2.2% on a year-over-year basis. Novanta has set its FY 2025 guidance at 3.220-3.360 EPS. Q3 2025 guidance at 0.780-0.850 EPS. On average, sell-side analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NOVT. Wall Street Zen downgraded shares of Novanta from a "buy" rating to a "hold" rating in a research note on Monday, August 11th. 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 note on Monday, August 11th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Novanta presently has an average rating of "Hold" and an average price target of $133.00.

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.