Novanta Inc. $NOVT Stock Holdings Lifted by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Novanta Inc. (NASDAQ:NOVT) by 4.1%, owning 60,403 shares valued at approximately $7.72 million by the end of the latest quarter.
• Multiple institutional investors, including First Trust Advisors and Susquehanna International Group, also raised their holdings in Novanta, indicating strong institutional interest in the company.
• Novanta reported $0.76 earnings per share for the last quarter, surpassing estimates and projecting a FY 2025 EPS guidance of 3.220-3.360.

Invesco Ltd. raised its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,403 shares of the technology company's stock after purchasing an additional 2,364 shares during the quarter. Invesco Ltd. owned approximately 0.17% of Novanta worth $7,724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOVT. First Trust Advisors LP grew its stake in Novanta by 22.8% in the fourth quarter. First Trust Advisors LP now owns 5,909 shares of the technology company's stock valued at $903,000 after purchasing an additional 1,096 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Novanta by 27.6% during the 4th quarter. Stifel Financial Corp now owns 9,577 shares of the technology company's stock worth $1,463,000 after acquiring an additional 2,071 shares in the last quarter. Susquehanna International Group LLP boosted its stake in shares of Novanta by 816.9% during the 4th quarter. Susquehanna International Group LLP now owns 15,335 shares of the technology company's stock worth $2,343,000 after acquiring an additional 17,474 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Novanta by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 14,354 shares of the technology company's stock worth $2,193,000 after acquiring an additional 4,293 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its stake 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 worth $49,000 after acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

NOVT has been the subject of several recent analyst reports. Robert W. Baird decreased their price target 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 downgraded Novanta from a "buy" rating to a "hold" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $133.00.

Novanta Price Performance

Shares of NASDAQ:NOVT opened at $118.73 on Tuesday. The business has a 50 day moving average price of $123.82 and a 200 day moving average price of $126.64. Novanta Inc. has a twelve month low of $98.76 and a twelve month high of $186.75. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 69.84 and a beta of 1.48. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Novanta (NASDAQ:NOVT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The technology company reported $0.76 earnings per share for the quarter, beating the consensus estimate 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 prior year, the company earned $0.73 EPS. The firm's revenue for the quarter 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. Research analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

About Novanta

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.

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