Virtu Financial LLC Invests $427,000 in Novanta Inc. $NOVT

Key Points

• Virtu Financial LLC purchased 3,337 shares of Novanta Inc. (NASDAQ:NOVT) valued at approximately $427,000 in the first quarter, reflecting increased interest from institutional investors.
• Analysts have downgraded Novanta's rating from "buy" to "hold" and reduced the target price from $139.00 to $133.00 following recent performance.
• Novanta's latest earnings report showed a quarterly revenue increase of 2.2% year-over-year, with earnings per share surpassing expectations at $0.76.

Virtu Financial LLC acquired a new stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,337 shares of the technology company's stock, valued at approximately $427,000.

Several other institutional investors also recently bought and sold shares of NOVT. Parallel Advisors LLC grew its position in 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 during the last quarter. Johnson Financial Group Inc. grew its position in 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 during the last quarter. GAMMA Investing LLC grew its position in 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 during the last quarter. CWM LLC grew its position in 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 during the last quarter. Finally, Signaturefd LLC grew its position in 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 during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Novanta Stock Performance

Shares of NASDAQ NOVT traded up $0.43 during trading on Tuesday, reaching $120.66. 84,843 shares of the company traded hands, compared to its average volume of 290,728. The firm has a 50 day simple moving average of $124.57 and a 200-day simple moving average of $127.66. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $4.34 billion, a PE ratio of 70.98 and a beta of 1.48. Novanta Inc. has a 52-week low of $98.76 and a 52-week high of $186.75.

Novanta (NASDAQ:NOVT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.76 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $237.97 million. During the same quarter in the prior year, the business earned $0.73 EPS. The business's quarterly revenue 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. Equities research analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NOVT. Wall Street Zen downgraded shares of Novanta from a "buy" rating to a "hold" rating in a research report on Monday, August 11th. Robert W. Baird dropped their price target on shares of Novanta from $139.00 to $133.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average 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.