25,742 Shares in Novanta Inc. $NOVT Acquired by Roubaix Capital LLC

Key Points

• Roubaix Capital LLC has invested approximately $3.29 million in Novanta Inc., acquiring 25,742 shares, which now represent 1.7% of its portfolio.
• Novanta Inc. has recently reported an earnings per share (EPS) of $0.76, exceeding analysts' expectations, with quarterly revenue of $241.05 million, reflecting a 2.2% year-over-year increase.
• Multiple institutional investors, including Caitong International Asset Management and Russell Investments Group, have significantly increased their stakes in Novanta during the first quarter of the year.

Roubaix Capital LLC purchased a new stake in Novanta Inc. (NASDAQ:NOVT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,742 shares of the technology company's stock, valued at approximately $3,292,000. Novanta comprises 1.7% of Roubaix Capital LLC's holdings, making the stock its 27th largest position. Roubaix Capital LLC owned approximately 0.07% of Novanta as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Conestoga Capital Advisors LLC grew its stake in Novanta by 1.3% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,365,252 shares of the technology company's stock valued at $174,575,000 after buying an additional 17,220 shares during the last quarter. Geneva Capital Management LLC grew its stake in Novanta by 9.5% in the 1st quarter. Geneva Capital Management LLC now owns 934,035 shares of the technology company's stock valued at $119,435,000 after buying an additional 81,397 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Novanta by 69.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 680,169 shares of the technology company's stock valued at $103,910,000 after buying an additional 279,793 shares during the last quarter. Northern Trust Corp grew its stake in Novanta by 14.0% in the 4th quarter. Northern Trust Corp now owns 487,688 shares of the technology company's stock valued at $74,504,000 after buying an additional 59,986 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Novanta by 9.9% in the 4th quarter. Ameriprise Financial Inc. now owns 457,225 shares of the technology company's stock valued at $69,850,000 after buying an additional 41,024 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Novanta Stock Performance

Shares of NASDAQ:NOVT traded up $0.43 on Thursday, reaching $115.58. 284,041 shares of the company's stock were exchanged, compared to its average volume of 292,025. The company has a fifty day moving average of $124.13 and a 200-day moving average of $127.53. Novanta Inc. has a twelve month low of $98.76 and a twelve month high of $186.75. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 67.99 and a beta of 1.48. The company has a current ratio of 2.54, a quick ratio of 1.62 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 (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 for the quarter, compared to analyst estimates of $237.97 million. During the same quarter in the prior year, the business posted $0.73 EPS. The business's 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. On average, research analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of Novanta from $139.00 to $133.00 and set a "neutral" rating on the stock in a research note on Monday, August 11th. Wall Street Zen lowered shares of Novanta from a "buy" rating to a "hold" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Novanta presently has an average rating of "Hold" and an average target price 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.